Petrol prices down by 19 paise in Delhi, diesel drops 11 paise

Petrol prices down by 19 paise in Delhi, diesel drops 11 paise

There has been a consistent dip in the fuel prices due to a fall in crude oil price over a period of time.

After the revision, diesel price has fallen below Rs 78-mark in Chennai. The diesel price fell by 0.14 paisa to settle at Rs. 73.64 per litre and Rs 77.18 per litre in respective cities.

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The downward slide in petrol and diesel prices continued on Saturday after the rates were cut by 19 and 11 paise a litre respectively in the national capital on softening global oil prices. But beginning October 18, worldwide oil prices have been falling and the rupee has also appreciated against the USA dollar which pulled the fuel rates down.

Price of Brent crude, a benchmark for global crude prices, has fallen to the levels of 72.57 dollars a barrel mark compared to its recent high of over 86 dollars a barrel. Hence there is a price cut of Rs 0.19/litre and 0.12/litre in petrol and diesel respectively. However, the Central Government earlier this month announced a reduction of Rs 2.50 per litre on both petrol and diesel prices after curbing excise duty on the commodity by Rs 1.50 per litre. It is worth mentioning that these prices of petrol and diesel have reached the lowest level of the last two weeks till date. This came down to Rs 81.50 per litre for petrol and Rs 72.95 in case of diesel.

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