Petrol, Diesel Prices Cut For Second Straight Day
Petrol and diesel prices were lowered in metros on Monday, a second consecutive cut in the rates. While the reduction in the rates of petrol was to the tune of 9-10 paise per litre compared to the previous day's levels, the prices of diesel were lowered by 5-6 per litre in Delhi, Mumbai, Kolkata and Chennai, according to Indian Oil Corporation. Currently, oil marketing companies such as state-run Indian Oil review the domestic rates of petrol and diesel on a daily basis and implement any changes at fuel stations with effect from 6 am. (Also read: How to find out latest petrol diesel prices in SMS)
Here are the latest prices of petrol and diesel in the metros with effect from 6 am on Monday:
| City | Petrol | Diesel |
|---|---|---|
| Delhi | 75.8 | 69.06 |
| Kolkata | 78.39 | 71.43 |
| Mumbai | 81.39 | 72.42 |
| Chennai | 78.76 | 72.98 |
| Source: Indian Oil | ||
With effect from 6 am on Monday, January 13, the price of petrol was revised to Rs 75.8 a litre in Delhi and Rs 81.39 a litre in Mumbai, as against Rs 75.9 per litre and Rs 81.49 per litre respectively the previous day, according to Indian Oil Corporation. The rates of diesel were at Rs 69.06 per litre in Delhi and Rs 72.42 per litre in Mumbai, as against Rs 69.11 per litre and Rs 72.47 per litre on Sunday.
The retail prices of the fuels are determined broadly by the international crude oil prices and the rupee-dollar exchange rate.
Crude oil prices edged lower on Monday as fears of conflict between the US and Iran eased, although the decline was checked by the planned signing of an initial US-China trade deal this week, which could boost demand.
Brent crude futures - the global benchmark for crude oil - were last seen down 0.2 per cent at $64.85 per barrel. India meets more than 80 per cent of its crude oil requirements through imports.
The rupee rose by 12 paise to 70.82 against the US dollar in early deals on Monday, amid weakness in the greenback overseas and strong foreign fund inflows.