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Business News/ Politics / Policy/  Petrol and diesel prices slashed again. Check today’s rates
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Petrol and diesel prices slashed again. Check today’s rates

In Delhi, petrol is being sold at ₹69.26 after today's price revision. Meanwhile, diesel rates in Delhi went down by 30 paise

The decline comes amid downward movement in global crude oil prices, Photo: MintPremium
The decline comes amid downward movement in global crude oil prices, Photo: Mint

Petrol prices were slashed by 30-32 paise on Saturday. Diesel price went down by up to 32 paise across major cities.

In Delhi, petrol is being sold at 69.26 after today’s price revision. Meanwhile, diesel rates in Delhi went down by 30 paise. Diesel is being sold at 66.32. Petrol price in Mumbai fell below the 75 per litre mark to 74.89.

Petrol now costs 71.85 in Chennai, 71.37 in Kolkata and 70.21 in Gurugram. A litre of diesel, on the other hand, costs 66.84 in Chennai, 65.07 in Kolkata and 63.26 in Gurugram.

The decline comes amid downward movement in global crude oil prices.

Oil retailers use a complex formula comprising a 15-day average of crude oil price and the exchange rate of the rupee against the US dollar to compute the daily retail price of petrol and diesel.

Oil prices steadied on Friday after a week of volatile trading ahead of the New Year holiday, supported by a rise in US equity markets but pressured by worries about a global glut of crude.

Brent crude futures rose 4 cents to settle at $52.20 a barrel, off the session high of $53.80 a barrel.

Oil prices fell to their lowest in a year and a half earlier this week and are down more than 20 percent for 2018, depressed in part by rising supply.

With inputs from Reuters

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Published: 29 Dec 2018, 04:59 PM IST
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