On Friday, fuel prices were further reduced due to a slump in demand after the coronavirus was declared pandemic. The petrol and diesel prices were cut by 14 paise and 16 paise respectively, across all major cities in the country.
Petrol now costs Rs 70.00 per litre in Delhi, Rs 75.70 per litre in Mumbai. Similarly, diesel costs Rs 62.74 a litre in Delhi, Rs 65.68 a litre in Mumbai, according to information provided by Indian Oil Corporation (IOCL). The retail prices of the two fuels are revised daily. The petrol and diesel rates are revised on the basis of crude prices in the international market.
International crude oil prices fell on Wednesday after Saudi Arabia and the United Arab Emirates vowed to boost production, escalating the global price war between OPEC and its allies. Brent was trading at $33.86 per barrel, down by $1.98 or 5.52 percent.
The travel and leisure industry has been badly impacted by the coronavirus after Italy locked down the entire country and the United States put a ban on travel to the country for at least 30 days.
(Inputs from Agencies)