Petrol prices slashed by over Rs 7.50 per litre in one month; petrol selling at Rs 79.31 in Chennai today

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Published: November 20, 2018 9:31:59 AM

Petrol, diesel prices today: Continuing the cutting spree, the oil marketing companies (OMCs) on Tuesday slashed the petrol and diesel rates across cities in the country.

Petrol price cut by 20 paise; rates back at mid-August levelsIn Chennai, petrol and diesel are available at Rs 79.31 per litre and Rs 75.31 per litre today. (Reuters)

Petrol, diesel prices today: Continuing the cutting spree, the oil marketing companies (OMCs) on Tuesday slashed the petrol and diesel rates across cities in the country. While petrol was available at Rs 76.38  per litre diesel prices were at Rs 71.27 per litre today in the national capital Delhi. The petrol is today selling for Rs 81.90 per litre and diesel for Rs 74.66 per litre in Mumbai today. It is the 31st straight daily reduction in rates eroding the massive price hike in petrol witnessed in two months since mid-August. The fuel rates are on a downward trajectory since October 18.

In Chennai, petrol and diesel are available at Rs 79.31 per litre and Rs 75.31 per litre today.

On Monday, the petrol was selling at Rs 76.52 per litre in Delhi down from Rs 76.71 from a day earlier. The diesel prices were at Rs 71.39 in the national capital, a cut of 17 paise from Sunday. In Mumbai, the petrol was at Rs 82.04 per litre while diesel was at Rs 74.79.

Also read: Share market LIVE updates: Sensex opens 100 points down, Nifty below 10,750; Yes Bank down 5%

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.

Crude oil prices

Meanwhile, the oil prices were held in check on Tuesday as expectations of an OPEC-led supply cut supported the market but were countered by a deteriorating economic outlook, as well as a surge in U.S. production. US West Texas Intermediate (WTI) crude futures, were at $57.14 per barrel at 0250 GMT, 6 cents below their last settlement, Reuters reported. Front-month Brent crude oil futures were at $66.75 a barrel, down 4 cents from their last close.

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