Petrol and diesel prices fell on Monday as Brent crude plunged over 20 per cent. Petrol price was reduced by 24 paise a litre while diesel price dropped by 25 paise in the capital.

Petrol prices in Delhi stand at Rs 70.59 per litre, a decrease of Rs 0.24. Diesel prices, meanwhile, are at Rs 63.26 a litre, seeing a reduction of Rs 0.25.

In Mumbai, petrol is now priced at Rs 76.29 per litre – a decrease of Rs 0.24. While, diesel is priced Rs 66.24 a litre, down Rs 0.26.

Petrol and diesel prices at Rs 70.59/litre (decrease by Rs 0.24) & Rs 63.26/litre (decrease by Rs 0.25), respectively in Delhi. Petrol and diesel prices at Rs 76.29/litre (decrease by Rs 0.24) & Rs 66.24/litre (decrease by Rs 0.26), respectively in Mumbai. pic.twitter.com/Mv2f5S51nc

— ANI (@ANI) March 9, 2020

Oil plunged over 20 per cent Monday after top exporter Saudi Arabia launched a price war in response to a failure by leading producers to strike a deal to support energy markets.

The two main contracts both lost about a fifth of their value in morning Asian trade, with West Texas Intermediate sliding to about $32 a barrel and Brent crude to about $33 a barrel.