NEW DELHI :
As crude oil rates made its biggest weekly drop since July, state-run fuel retailers chose to decrease the retail price of petrol and diesel in India once again for the fifth consecutive day today. Petrol is now cheaper by 13 paise a litre and diesel by 12 paise per litre.
In the last five days alone, the price of petrol has fallen by 85 paise a litre and diesel by 58 paise a litre. Given the trend in crude oil rates, on which fuel prices are dependent, petrol and diesel prices are likely to fall further in the last few days as well.
In New Delhi, a litre of petrol now costs ₹73.76 a litre and diesel ₹66.91 a litre. In Mumbai, a litre of petrol now costs ₹79.37 a litre and diesel ₹70.14 a litre.
In Bengaluru, a litre of petrol now costs ₹76.22 a litre and diesel ₹67.14 a litre. In Hyderabad, a litre of petrol now costs ₹78.43 a litre and diesel ₹72.96 a litre. In Gurgaon, a litre of petrol now costs ₹73.48 a litre and diesel ₹66.05 a litre.
During the day, West Texas Intermediate (WTI) for November delivery fell 15 cents, or 0.3%, to $52.66 a barrel on the New York Mercantile Exchange as of 11:31 a.m. in Singapore.
Brent for December settlement lost 26 cents or 0.5% to $58.11 a barrel on the London-based ICE Futures Europe Exchange. It rose 1.1% Friday, paring its weekly decline to 5.7%. The global benchmark crude traded at a premium of $5.51 to WTI for the same month.
Crude oil futures in New York had lost 5.5% last week amid worries over US-China trade war.
Brent crude oil rates, which had gone up by $71.95/barrel after the September 14 attacks in Saudi Arabia, have dipped by $14 per barrel now.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.