After six days, petrol price was cut by 5 paise a litre today. Diesel price was also slashed by 5-6 paise across all the metro cities in the country.
In New Delhi, a litre of petrol today costs ₹71.89 and diesel ₹64.65. In Mumbai, a litre of petrol comes at a price of ₹77.56 a litre and diesel ₹67.75 a litre. If you are in Bengaluru, you will have to pay ₹74.34 for petrol and ₹66.84 for diesel. In Chennai, petrol costs ₹74.68 and diesel ₹68.27.
Petrol and diesel rates have been on a declining path since January 12 and so far in February. Petrol and diesel rates in India are reviewed on a daily basis. Oil marketing companies revise the fuel prices every day at 6 am. Various factors like international crude oil prices and rupee-US dollar exchange rate impact petrol and diesel prices in the country.
Crude oil futures today fell by ₹44 to ₹3,692 per barrel. Oil demand in China, the world's second-largest crude consumer, has plunged because of travel restrictions to and from the country and quarantines within it. Brent Crude, the international benchmark, fell 1.02% to trade at $57.08 per barrel in New York. Globally, West Texas Intermediate crude oil fell 0.67% at $51.70 per barrel.
(With agency inputs)