Petrol, Diesel Prices Unchanged For Seventh Straight Day Even As Crude Prices Slide

Fuel prices across major cities remained unchanged for seventh straight day on Monday amid lockdown across several in the country. In the global market, crude oil rates have fallen to about $25 a barrel. Petrol on Monday will now cost Rs 69.59 per litre and diesel at Rs 62.29 per litre in Delhi. The fuel prices across the country seem to be stable since past one week due to the coronavirus outbreak and the slowdown of oil prices globally. In Mumbai, petrol is being sold at Rs 75.30 per litre and diesel at Rs 65.21 per litre. In Chennai, a litre of petrol to cost Rs 72.28 per litre, and diesel is priced at Rs 65.71 per litre.

Meanwhile, brent crude prices extended falls on Monday amid more action by governments to contain the global coronavirus outbreak that has slashed the demand outlook for oil and threatened a worldwide economic contraction.

Oil prices have fallen for four straight weeks and have dropped about 60 per cent since the start of the year. Prices of everything from coal to copper have also been hit by the crisis, while markets in bonds and stocks enter rarely charted territory.