NEW DELHI :
With crude oil rates hovering around $64 a barrel after topping the $70 mark last week, petrol and diesel prices have been on the declining mode since Sunday. For the third consecutive day today, the price of petrol was cut by 10 paise a litre. Diesel price was, however, left untouched by fuel retailers during their daily review.
In New Delhi, a litre of petrol today costs ₹75.70 and diesel ₹69.06. In Mumbai, a litre of petrol comes at a price of ₹81.29 a litre and diesel ₹72.42 a litre. If you are in Bengaluru, you pay ₹78.23 for petrol and ₹71.36 for diesel. In Chennai, petrol costs ₹78.65 and diesel ₹72.98. Those in Hyderabad will have to pay ₹80.49 for petrol and ₹75.30 for diesel. In Gurgaon, you pay ₹75 for petrol and ₹67.89 for diesel.
As compared with the fuel prices in the beginning of December, the price gap between petrol and diesel has now narrowed down to ₹6.64 from ₹9.13 earlier in Delhi. The difference in the prices of the two automobile fuels is due to a gap in its international benchmark rates.
In the international market, crude oil rates continued to dip today as both the US and Iran chose not to escalate conflict in the Middle East region. Brent crude was down 8 cents, or 0.1%, at $64.12 per barrel by 0124 GMT. U.S. West Texas Intermediate crude futures were down 4 cents, or 0.1%, at $58.04 a barrel.
Oil prices surged to their highest in almost four months after a U.S. drone strike killed an Iranian commander on Jan. 3 and Iran retaliated with missiles launched against U.S. bases in Iraq. But they slumped again as Washington and Tehran retreated from the brink of direct conflict last week.