NEW DELHI: For the first time in the last three weeks, petrol and diesel prices were decreased today by government-owned fuel retailers. The impact of a decline in crude oil rates in the international market during the last few days can now be felt in fuel rates in India. The price of petrol fell by 10 paise a litre while diesel by 6 paise a litre today.
As of today, a litre of petrol costs ₹74.51 in Delhi, ₹80.11 in Mumbai, ₹77 in Bengaluru, ₹74.06 in Gurgaon and ₹79.14 in Hyderabad. Diesel, on the other hand, costs ₹67.43 a litre in Delhi, ₹70.69 in Mumbai, ₹69.67 in Bengaluru, ₹ 66.49 in Gurgaon and ₹ 73.44 in Hyderabad.
Petrol prices had last fallen more than three weeks ago, on September 8. The recent spike in rates, however, began from September 17 as an aftermath of drone attacks on Saudi Arabia’s oil facilities. Brent futures are now well below levels seen before the September 14 attacks on Saudi Arabia oil facilities that briefly halved more than half the kingdom’s output.
Crude oil rates have fallen everyday for the last seven days and is now near the lowest level in almost two months.
Brent crude oil futures edged 10 cents higher, or 0.2%, to $57.79 a barrel by 0209 GMT, after tumbling 2% in the previous session. US West Texas Intermediate (WTI) crude futures were up 23 cents, or 0.4%, to $52.87 a barrel, after sinking by 1.8% on Wednesday.