Petrol prices cut by over Rs 7 in Chennai in just over a month; check rates in metros

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Published: November 22, 2018 9:34:59 AM

In a major relief to the common man, petrol prices have been reduced by over Rs 7 in Chennai in the last 35 days. Petrol prices have fallen by Rs 7.22 from October 17th highs in Chennai, and one litre is currently retailing at Rs 78.88.

In financial capital Mumbai, oil marketing companies have reduced petrol prices to Rs 81.50, a reduction of Rs Rs 6.79.

In a major relief to the common man, petrol prices have been reduced by over Rs 7 in Chennai in the last 35 days. Petrol prices have fallen by Rs 7.22 from October 17th highs in Chennai, and one litre is currently retailing at Rs 78.88. In case of Delhi, the overall price cut is Rs 6.86 from 82.83 on October 17th, retailing today at Rs 75.97. In financial capital Mumbai, oil marketing companies have reduced petrol prices to Rs 81.50, a reduction of Rs Rs 6.79. In Kolkata, petrol is retailing at Rs 77.93, down from Rs 84.65, taking the overall cut in the last 35 days to Rs 6.72. The prices were sourced from IOc website.

Also read: Share market LIVE updates: Sensex, Nifty open with marginal gains; Yes Bank up 2%; Bharti Airtel slips

The price cut comes on the back of dropping global crude oil prices. Oil prices dipped on Thursday after U.S. crude inventories increased to their highest level since December 2017 amid concerns of an emerging global glut, although an expected supply cut by producer cartel OPEC prevented further drops. U.S. West Texas Intermediate (WTI) crude futures, were at $53.38 per barrel at 0141 GMT, 25 cents, or 0.5 percent below their last settlement, Reuters reported.

Checking latest rates in your city

To get the latest indicative petrol and diesel prices in any city, a customer can log into the IOCL app on mobile. Or, a customer can SMS  “RSP Dealer Code of Petrol Pump” to 92249 92249.

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