Petrol, Diesel Prices Lowered For Third Straight Day

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Domestic petrol and diesel prices were lowered on Saturday, marking a third straight day of reduction. In Delhi and Mumbai each, the price of petrol was lowered by 10 paise per litre, while diesel rates were cut by 14 paise per litre and 15 paise per litre respectively compared to the previous day’s rates, according to data from state-run Indian Oil Corporation. Currently, oil marketing companies such as Indian Oil Corporation – the country’s largest fuel retailer – review the fuel rates every day and any changes are implemented at the fuel pumps at 6 am. (Also read: How to receive today’s petrol and diesel rates in your city through SMS)
Petrol and diesel rates in four metros today
In Delhi, the price of petrol was Rs. 73.32 per litre with effect from 6 am on Saturday, and that of diesel was Rs. 66.46 per litre, according to Indian Oil Corporation.

In Mumbai, the prices of petrol and diesel were Rs. 78.93 per litre and Rs. 69.66 per litre respectively.

CityPetrolDiesel
Delhi73.3266.46
Kolkata75.9768.82
Mumbai78.9369.66
Chennai76.1470.20
(Source: Indian Oil Corporation)

(The price of petrol and diesel in the four metros in rupees per litre)

In Kolkata, the petrol and diesel prices were Rs. 75.97 per litre and Rs. 68.82 per litre respectively.

In Chennai, the rate of petrol was Rs. 76.14 per litre and that of diesel Rs. 70.20 per litre.

Domestic prices of the fuels are determined broadly by the international crude oil rates and the foreign exchange (foreign) exchange rate of the rupee against the US dollar.

Crude oil prices gained over 2 per cent on Friday after Iranian media said a state-owned oil tanker was attacked in the Red Sea near Saudi Arabia, while optimism surrounding the US-China trade war lifted sentiment. Brent crude futures – the global benchmark for crude oil – rose by $1.41 – or 2.4 per cent – to end at $60.51 per barrel.

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Brent crude futures recorded their biggest daily rise since September 16, the first trading day after attacks on Saudi installations knocked out more than half of the kingdom’s crude output and temporarily pushed oil prices up by about 20 per cent.

The rupee ended nearly unchanged at 71.01 against the US dollar on Friday – down 1.79 per cent against the greenback so far this year.

The price of petrol has been reduced by a total Rs. 1.10-1.22 per litre in the four metros so far this month, and the rate of diesel cut by 87-99 paise per litre.

Source By NDTV

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