Petrol and
diesel prices declined today across all major cities in India, the second day on run of sharp price cuts. In all, it was the fifth consecutive day of fuel price fall.
Petrol prices were cut by 22-23 paise per litre and diesel prices were down by 20-21 paise a litre. Prices had declined sharply yesterday as well.
In Delhi, a litre of petrol is being sold at Rs 71.49 per litre, Rs 77.18 in Mumbai, Rs 74.16 in Kolkata and Rs 74.28 in Chennai.
Diesel costs Rs 64.10 a litre in Delhi, Rs 67.13 a litre in Mumbai, Rs Rs 66.43 a litre in Kolkata and 67.65 per litre in Chennai, according to Indian Oil Corporation website.
Domestic fuel prices have been seeing sharp decline in prices since last one week due to falling global crude oil prices amid fears of a Coronavirus pandemic. Prices registered a big drop yesterday as well with
petrol price (in Delhi) dropping by 17 paise and diesel by 21 paise on Sunday.
In international markets, global benchmark Brent crude was hovering around $51 a barrel, after earlier dropping to $48.40, the lowest since July 2017.
Fuel prices are reviewed by oil marketing companies on a daily basis.