Petrol, diesel prices: For days now petrol prices have been cut more in Mumbai than in Delhi, with today witnessing no revision in rates either for diesel or petrol.
Petrol, diesel prices: For days now petrol prices have been cut more in Mumbai than in Delhi, with today witnessing no revision in rates either for diesel or petrol. In the last few days, while petrol price has been cut between 10-15 paise in Delhi, it was cut between 10-18 paise in Mumbai. The petrol price in Mumbai is highest in the country.
A quick analysis of last five days shows that when petrol price was cut 14 paise in Delhi on June 26, in Mumbai, the cut was 18 paise; on June 25, the cut in Delhi was 10 paise, in Mumbai, it was 14 paise; on June 24, the cut in Delhi was 13 paise, in Mumbai, it was 14 paise; On June 23 the cut was 9 paise in Delhi, 13 paise in Mumbai; on June 22, the cut was 14 paise and 18 paise respectively.
The price of petrol in the national capital stands at Rs 75.55 a litre and in Mumbai Rs 83.12 a litre. In Kolkata and Chennai today, petrol prices are Rs 78.23 a litre and Rs 78.40 a litre. Diesel price in Delhi is Rs 67.38 and in Mumbai today is Rs 71.52 a litre. in Kolkata and Chennai are Rs 69.93 and Rs 71.12 a litre.
The fuel prices have not risen since May 29 when they surged to record highs, then, on the back of high crude oil prices. However, the international crude oil prices began slumping on the reports that the OPEC was planning to relax the curb on oil production. The OPEC decided for an extra 1 million barrels per day (bpd) of oil last week.
Back home, the government is happy that the oil cartel has taken cognizance of the market and the move is a positive sign for consuming countries like India. “How price will emerge is up to demand and supply fundamentals but as a consuming country, India is happy that they looked into our expectations,” he said.