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Petrol, diesel prices fall for fifth straight day. Check rates here
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
Petrol prices declined further on Monday by 6 paise, while diesel slipped by 9-10 paise in the four major metro cities — Chennai, Kolkata, Mumbai and New Delhi. Petrol in Mumbai stood at Rs 75.63 a litre, while diesel was at Rs 66.93 per litre. According to the Indian Oil Corporation data, petrol costs Rs …
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Petrol prices declined further on Monday by 6 paise, while diesel slipped by 9-10 paise in the four major metro cities — Chennai, Kolkata, Mumbai and New Delhi.
Petrol in Mumbai stood at Rs 75.63 a litre, while diesel was at Rs 66.93 per litre.
According to the Indian Oil Corporation data, petrol costs Rs 69.93 per litre and diesel Rs 63.84 a litre in New Delhi. In Kolkata and Chennai, petrol price stood at Rs 72.19 per litre and Rs 72.64 per litre while diesel was at Rs 65.76 per litre and Rs 67.52 a litre, respectively.
Fuel prices have declined for the fifth straight day today. Rates were largely rangebound during April and May despite a rise in oil prices in the international market.
As per the country’s dynamic pricing mechanism, the domestic fuel prices depend upon international fuel prices on a 15-day average and the value of the rupee.
Oil prices rose on Monday after US Secretary of State Mike Pompeo said Washington will take all actions necessary to guarantee safe navigation in the Middle East, as tensions mounted following attacks on tankers last week.
Brent futures rose 27 cents, 0.4 percent to $62.28 a barrel by 0040 GMT. They rose 1.1 percent on Friday. US West Texas Intermediate (WTI) crude futures were up 18 cents, or 0.4 percent, at $52.69 a barrel. They rose 0.4 percent in the previous session.
Prices had jumped as much as 4.5 percent on Thursday after the attacks on two oil tankers near Iran and the Strait of Hormuz. Petrol prices in India, however, fell further by one percent despite the Middleast tensions.
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