Representative Image
Representative Image
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As coronavirus scare gripped the country, petrol and diesel prices remained unchanged today for second consecutive day. On Monday, petrol prices were slashed by 16 paise per litre and diesel prices were cut by 15-16 paise.

On Wednesday, petrol now costs Rs 69.59 per litre in Delhi, Rs 75.30 per litre in Mumbai. Similarly, diesel costs Rs 62.29 a litre in Delhi, Rs 65.21 a litre in Mumbai. The retail prices of the 2 fuels are revised daily. The petrol and diesel rates are revised on the basis of crude prices within the international market.

The nearly 30 per cent fall in global crude oil prices can lower petrol prices by Rs 12 per litre and diesel prices by Rs 10 per litre in India from their present prices, said State Bank of India (SBI) research team's publication Ecowrap published on Tuesday. However, if both the Centre and states are not willing to cut fuel prices, they must not -- under any circumstances -- raise excise duty, said the report.

Crude oil prices on Tuesday rose by 2.96 per cent to Rs 2,225 per barrel as participants enlargened their holdings tracking a positive trend overseas. On the Multi Commodity Exchange, crude oil for delivery in March traded higher by Rs 64, or 2.96 per cent, to Rs 2,225 per barrel in 32,886 lots.

(Inputs from Agencies)

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Free Press Journal