Petrol prices remain at nearly 3-month low. Check today's petrol, diesel rates1 min read . Updated: 05 Feb 2020, 12:47 PM IST
- Diesel prices remained at lowest level in about 45 days
- Rupee's appreciation against the US dollar and a slide in global oil prices have helped bring down petrol and diesel prices in India
Petrol and diesel prices remained unchanged today in top metros. In Delhi, petrol was retailing at ₹72.98 a litre in Delhi, the lowest since 9th November. In Kolkata, Mumbai and Chennai, petrol retailed at ₹75.65, ₹78.63 and ₹75.83 respectively. Similarly, in Delhi, diesel cost ₹66.04 a litre today, the lowest since 18th December. In Kolkata, Mumbai and Chennai, diesel today cost ₹68.41, ₹69.22 and ₹69.76 a litre respectively.
India has benefited from a slide in global crude prices as it imports 80% of its oil requirement. Oil marketing companies review petrol and diesel prices on a daily basis. Price revisions are effected at petrol pumps with effect from 6 am.
The retail prices of petrol and diesel in India is dependent on the international crude prices and the rupee-US dollar exchange rate.
The Indian rupee has also appreciated to 71.17 against the US dollar.
Oil prices climbed more than 1% on Wednesday, boosted by news that OPEC and its producer allies are weighing further output cuts to counter a potential squeeze on global oil demand resulting from China's fast-spreading coronavirus.
Despite rebounding from recent lows, Brent crude oil futures traded below $54.70 a barrel.
But analysts have warned that the impact of production curbs might be cancelled out if problems persist longer-term in China, the world's biggest crude oil importer and the main driver of global energy demand growth in recent years. (With Agency Inputs)