Fuel prices declined across all metros on Tuesday after remaining static for four consecutive days. In Delhi, petrol rates were cut by 22 paise per litre and diesel by 23 paise per litre, respectively, on March 30, as per the Indian Oil Corporation data. Currently, the cost of one litre of petrol in Delhi is Rs 90.56 per litre and diesel is priced at Rs 80.87 per litre.
Previously, fuel prices have declined twice in March in Delhi -- March 24 and March 25. Petrol decreased by 39 paise and diesel by 37 paise.
In Mumbai, petrol prices were decreased by 21 paise and diesel by 24 paise on Tuesday. The current petrol rates stand at Rs 96.98 per litre and diesel at Rs 87.96 per litre. In Chennai, Kolkata, Hyderabad, and Bengaluru, the per litre of the price of petrol has declined to Rs 92.58; Rs 90.77; Rs 94.16 ad Rs 93.59, respectively.
Similarly, diesel rates have also gone down in these metro cities on March 30. For instance, a litre of diesel costs Rs 85.75 in Bengaluru. In Chennai, Kolkata and Hyderabad, diesel price stands at Rs 85.88 per litre, Rs 83.75 per litre, and Rs 88.20 per litre, respectively.
Oil marketing companies have recently stayed away from increasing prices despite a surge in crude oil prices. The May contract of Brent crude on the Intercontinental Exchange is around $64.5 per barrel. On Tuesday, oil prices fell as shipping traffic resumed through the Suez Canal after days on hold. Brent crude was down 15 cents, or 0.2 per cent, at $64.83 a barrel by 0115 GMT, after gaining 0.6 per cent on Monday.
The petrol and diesel prices have increased 26 times in 2021, with the two auto fuels increasing by Rs 7.46 and Rs 7.60 per litre, respectively. Officials in public sector oil companies say retail prices may rise again if crude and product prices pick up.