Petrol prices across the country remain unchanged on Sunday after continuing to fall for consecutive days. However, diesel rates cut around 10-11 paise today. Fuel price chart shows that petrol is now at its lowest rate since October 2017, thanks to lower global crude oil prices. A litre of petrol now retails at 68.29 in Delhi, 73.95 in Mumbai, 70.43 in Kolkata, 70.85 in Chennai.

The diesel price has dipped in all the major cities. A litre of diesel is sold at 62.16 in Delhi, 65.04 in Mumbai, 63.93 in Kolkata and 65.62 in Chennai.

Petrol prices in Bangalore remains unchanged on Sunday after two consecutive hikes. Recently, Karnataka government has increased taxes on petrol and diesel to 32% and 21%, respectively, after two-and-half months. However, diesel prices have decreased by 11 paise. Diesel costs 64.19 a litre in Bangalore.

The pace of decrease of diesel price has been slower than that of petrol due to a difference in benchmark rates.

The retail selling price of petrol and diesel is dependent on the international prices of benchmark fuel and the rupee-US dollar exchange rate. This is because a large proportion of the country’s requirement is met through imports. It is being estimated in the market that the retail prices of petrol and diesel may reign easy in the next few days.

Oil rose nearly 2% on Friday after proposed trade talks between the United States and China eased some fears about a global economic slowdown.

Brent increased about 9.3% for the week, while WTI rose about 5.8%, according to Reuters.

With agency inputs

Close