Diesel price touch 13-month low, petrol at 9-month low. Know today's rates
Premium- Petrol price is now back to where it was in July while diesel price is tracking January 2019 levels
- Crude oil rates have already recovered about half of the 25% plunge on Monday
NEW DELHI : Despite a massive slump of 25% in crude oil rates on Monday, petrol and diesel prices were left unchanged today after six days of successive rate cuts. State-run fuel retailers are now selling petrol at a 9-month low rate while diesel has touched a 13-month low. Petrol and diesel prices were slashed by 30 paise a litre and 25 paise a litre, respectively, yesterday.
In Delhi, a litre of petrol is priced at ₹70.29 per litre and diesel at ₹63.01 per litre. In Mumbai, petrol is selling at ₹75.99 per litre and diesel at ₹65.97 per litre. In Chennai, a litre of petrol will cost ₹73.02 per litre whereas diesel is now priced at ₹66.48 per litre. In Bengaluru, petrol is now selling at ₹72.70 and diesel at ₹65.16. In Hyderabad, petrol pumps are charging ₹74.72 for petrol and ₹68.60 for diesel. If you are in Gurgaon, you will have to shell out ₹70.76 for petrol and ₹62.69 for diesel.
As oil marketing companies take into account a complex algorithm comprising a 15-day average of international benchmark rates of petrol and diesel along with the exchange value of rupee against the US dollar, the impact of any volatility in the oil market gets staggered in the Indian retail market.
In the wake of reduction in crude oil rates, opposition party Congress has been demanding a drastic cut in petrol, diesel prices. Congress leader Rahul Gandhi today demanded that petrol prices should be brought under ₹60.
"Hey @PMOIndia, while you were busy destabilising an elected Congress Govt, you may have missed noticing the 35% crash in global oil prices. Could you please pass on the benefit to Indians by slashing #petrol prices to under 60 ₹ per litre? Will help boost the stalled economy," Rahul Gandhi tweeted.
Amid hopes of a stimulus to shield the economy from the impact of coronavirus, crude oil has now recovered about half of Monday's 24% plunge. Brent crude oil rates jumped 8.3% yesterday and around 4% today.
Brent crude futures rose $1.44, or 3.9%, to $38.66 a barrel by 0226 GMT, while U.S. West Texas Intermediate (WTI) crude gained $1.12, or 3.3%, to $35.48 a barrel, following a jump of over 8% the previous day.
