After one-day hiatus, petrol, diesel prices were slashed again on Thursday following which petrol became cheaper by 39-42 paise while diesel prices came down by 42-46 paise in major cities of the country. After Thursday’s revision, non-branded petrol in the national capital Delhi is priced at Rs 71.32 per litre, down 40 paise compared to Wednesday. Diesel in Delhi is sold at Rs 65.96 today, down 43 paise, according to data available on Indian Oil Corporation website.
In Mumbai, petrol is sold at Rs 76.90 today, as compared to Rs 77.29 on Wednesday and diesel became cheaper by 46 paise to Rs 69.09.
In other metro cities like Chennai and Kolkata, petrol is sold at Rs 73.99 and Rs 73.36 respectively while diesel in these cities is priced at Rs 69.63 and Rs 67.63 respectively.
Petrol, diesel fell on Thursday as international crude prices resumed their downward trend again. On Thursday, Brent crude future was hovering around $61 per barrel level in Asian trade, down nearly 0.50 per cent. Oil prices fell along with weak stock markets on Thursday, but trading was tepid ahead of a meeting by producer group OPEC that is expected to result in a supply cut aimed at draining a glut that has pulled down crude prices by 30 percent since October.
In Noida, petrol became cheaper by 33 paise and diesel became cheaper by 38 paise to Rs 71.03 and Rs 65.14 respectively.
The recent fall in fuel prices is likely to keep inflation lower while the Indian rupee also appreciated on hopes lower fuel prices will bring down India’s current account deficit.