Petrol and diesel prices have dropped in major Indian cities taking a cue from the fall in global crude oil prices. Petrol prices in Delhi decreased by Rs 0.24 to at Rs 70.59 per litre and diesel dropped by Rs 0.25 at Rs 63.26 per litre in Delhi. Metro cities witnessed a drop in the range of Rs 0.24 to Rs Rs 0.27 in petrol prices and Rs 0.25-0.26 in diesel after today’s rate revision. Crude oil fell by 25%, its worst fall in a day since the 1991 Gulf War, Reuters reported.
In the national capital Delhi, petrol prices were cut from Rs 70.59 a litre on Sunday to Rs 70.83 per litre on Monday while a litre of diesel is retailing at Rs 63.26 a litre, Rs 0.25 less than Sunday’s price, according to data from Indian Oil Corporation website. In the last five days, petrol prices have dropped by Rs0.85 a litre in the National Capital Region (NCR). On the other hand, prices of diesel have declined by Rs 0.77 a litre. On Sunday, state-run oil marketing companies had cut fuel prices in the range of Rs 0.18-0.20 across major metro cities in India.
In Mumbai, petrol prices were cut by Rs 0.27 and is now retailing for Rs 76.29 per litre. Diesel prices on the other hand stand at Rs 66.24 a litre after witnessing a price cut of Rs 0.26 from last day’s prices.
In Kolkata, a litre of petrol is selling at Rs 73.28 a litre, down by Rs 0.23 as compared to yesterday’s Rs 73.51 a litre. Diesel is now selling for Rs 65.59, down by Rs 0.25 than yesterday’s rates. In Chennai, local prices of petrol and diesel are Rs 73.33 a litre (a drop by Rs 0.25) and Rs 66.75 (down by Rs 0.26) a litre respectively.
Meanwhile, brent crude futures were down $11.31, or 25%, at $33.96 a barrel by 0319 GMT, Reuters reported.