Petrol price cut by 24 paise, diesel by 22 paise today
Photo Credit: Pixabay

On Thursday, petrol and diesel prices witnessed a dip due to softening of international crude oil rates as demand declined following the outbreak of coronavirus in China. The price of petrol was cut by 24 paise and that of diesel by 22 paise across all major cities.

So now, a litre of diesel costs Rs 69.56 in Mumbai, and Rs 66.36 in Delhi, while a litre of petrol is priced at Rs 78.97 in Mumbai, and Rs 73.36 in Delhi. Retail prices of the two automobile fuels are revised daily. Petroleum companies revise petrol and diesel prices on the basis of crude prices in the international market. Hence the prices vary according to the company.

Crude oil prices on Wednesday rose by Rs 48 to Rs 3,856 per barrel as speculators created fresh positions amid positive global trends. On the Multi Commodity Exchange, crude oil for delivery in February traded higher by Rs 48, or 1.26 per cent, to Rs 3,856 per barrel in 24,104 lots.

Crude oil for March delivery was up by Rs 44, or 1.15 per cent, at Rs 3,874 per barrel with an open interest of 736 lots. Globally, West Texas Intermediate was trading higher by 1.08 per cent to USD 54.06 per barrel. Meanwhile, Brent crude, the international benchmark, edged up 1.13 per cent to USD 60.18 per barrel in New York.

(Inputs from PTI)

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