NEW DELHI :
The price of petrol today began to climb down after six days of stagnancy. The price of petrol fell by 5 paise a litre and that of diesel by 6 paise a litre today. Apparently due to the assembly elections in Haryana and Maharashtra, state-run fuel retailers had chosen not to tinker much with fuel prices despite the cooling down of crude oil rates.
The price of petrol was not changed for six consecutive days while there was intermittent cuts in diesel prices.
5 things to know about petrol, diesel prices:
1) In Delhi, a litre of petrol today costs ₹73.22 and diesel ₹66.11. If you are in the neighbouring city of Gurgaon, you have to pay ₹73.05 for petrol and ₹65.36 for diesel. In Noida, a litre of petrol costs ₹74.85 and diesel ₹66.37. In Bengaluru, a litre of petrol now costs ₹75.66 and diesel ₹68.31 while in Mumbai, a litre of petrol costs ₹78.83 and diesel ₹69.29.
2) Falling consistently this month, fuel prices are now tracking last month-end rates.
3) Petrol pumps across Rajasthan could be closed tomorrow as operators have decided to sit on a 24-hour strike to protest against the increase in VAT rates.
4) In the international market, Brent crude oil has fallen 22% from its April peak, while WTI is down 20% despite last month’s drone attacks on Saudi Arabia's oil facilities.
5) Yesterday was the second straight day when oil rates fell, this time by nearly 1%. Worries over the US-China trade war and the threat to oil demand due to a slowing global economy are weighing down crude rates. "Crude oil prices remained in the doldrums, with ongoing economic weakness weighing on sentiment," ANZ Bank said. During the day, Brent crude oil futures were down 6 cents, or 0.1% to $58.90 a barrel by 0309 GMT, while U.S. West Texas Intermediate (WTI) crude futures were flat at $53.31 per barrel.