BackPetrol, diesel prices hiked again. Check today’s rates in top cities
A litre of petrol now retails at ₹69.75 in Delhi, ₹75.39 in Mumbai, ₹72.04 in Bangalore, ₹72.40 in Kolkata, ₹71.97 in Chennai
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The fuel prices have increased for the fourth consecutive day on Sunday, thanks to volatile crude oil prices. While petrol went up 60-75 paise, diesel was hiked by 60-75 paise in all major cities.
A litre of petrol now retails at ₹ 69.75 in Delhi, ₹ 75.39 in Mumbai, ₹ 72.04 in Bangalore, ₹ 72.40 in Kolkata, ₹ 71.97 in Chennai.
Diesel, on the other hand, costs ₹ 63.69 in Delhi, ₹ 66.66 in Mumbai, ₹ 65.78 in Bangalore, ₹ 65.46 in Chennai and ₹ 67.26 in Kolkata. Petrol and diesel prices, which had peaked on October 4 due to a rising global crude prices, had been on the decline since then.
Prior to these hikes, rates had cooled to a year low of ₹ 68.29 for petrol and ₹ 62.16 in case of diesel. This followed a decline in rates on almost all days since October 18, 2018.
During the last three months, the price of petrol has fallen by about 16% in Delhi while benchmark Brent crude oil has fallen by about 30%. India’s fuel price is linked directly to crude oil rate because about 80% of our requirements are imported.
In all, the petrol price has fallen by ₹ 14.54 per litre since October 18, more than negating all of the hikes that were witnessed in the two-month period beginning mid-August. Diesel price has declined by ₹ 13.53 per litre in two and a half months.
Oil prices fell nearly 2% on Friday as investors worried about a global economic slowdown, snapping a nine-day winning streak spurred by US-China trade hopes, but clung to some gains from that rally to end the week higher.
With inputs from agencies
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