Petrol rates marginally down for 5th day running, diesel stays unchanged

New Delhi: State-run oil marketing firms marginally lowered petrol prices for the fifth consecutive day on Sunday under the dynamic pricing regime although the rates continue to rule at unprecedented levels following the resumption of daily price changes after a 20-day suspension of the system last month owing to the Karnataka elections.

As per prices announced by largest retailer Indian Oil Corp (IOC), prices fell around nine paise in the four metro cities, while diesel prices remained unchanged over Saturday.

Representational image. Reuters

Representational image. Reuters

In Delhi, petrol per litre on Sunday cost Rs 78.11, down from Rs 78.20 on Saturday.

Similarly, in Mumbai and Kolkata, petrol prices were at Rs 85.92 and Rs 80.75 a litre respectively, while in Chennai petrol fell by ten paise on Sunday to Rs 81.09 per litre.

Diesel prices, however, remained unchanged on Sunday. In Delhi, Kolkata, Mumbai and Chennai, the fuel sold for Rs 69.11, Rs 71.66, Rs 73.58 and Rs 72.97 per litre, respectively.

Lower global crude oil cost, along with a strengthened rupee, has pulled down the prices of transportation fuels since May 30.

On Saturday, Brent crude oil prices slipped to around $76 per barrel from $77 a barrel as global supply concerns eased. A decline in global crude oil prices in turn lessen the cost of refined products like gasoline or petrol.

The Indian rupee has also strengthened, easing the pressure on fuel prices. On a weekly basis, it appreciated by 72 paise to close at 67.06 against the US dollar from its previous week's close of 67.78 per greenback.

The recent surge in the prices of key transportation fuels was attributed to a rise in crude oil cost, which rose till last week, and the high excise duties levied on the fuel in the country.


Updated Date: Jun 03, 2018 19:51 PM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See