As global crude oil rates continue to tumble, petrol and diesel prices were decreased once again today by 22 paise and 20 paise, respectively. After touching a record high last month, petrol prices are now at their lowest level since September. A litre of petrol costs Rs 78.56 in Delhi, Rs 84.06 in Mumbai, Rs 81.61 in Chennai, Rs 79.19 in Bengaluru and Rs 80.47 in Kolkata.
The decline in diesel prices has, however, not been as sharp. Diesel costs Rs 73.16 a litre in Delhi, Rs 76.67 in Mumbai, Rs 77.34 in Chennai, Rs 73.55 in Bengaluru and Rs 75.02 in Kolkata. The diminishing price gap between the prices of petrol and diesel is also becoming a matter of concern for car sellers. In Chennai, the difference is just Rs 4.27, according to today’s rates. In Bhubaneswar, petrol is already cheaper than diesel–petrol costs Rs 77.43 while diesel costs Rs 78.51.
The drop in petrol and diesel prices, which began with a government intervention in the beginning of October, has been sharpened by a slump in international crude rates. India imports about 80% of its crude oil requirements. Read More
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