Petrol, diesel rates cut today to lowest in many months. Check latest prices


Petrol, diesel rates cut today to lowest in many months. Check latest prices


  • Petrol prices are now down at 9-month lows while diesel rates are lowest in about 15 months
  • Global oil prices have fallen sharply this month

Petrol and diesel prices were lowered today as global oil prices continued to remain soft. In top metros, petrol prices were cut about 13 paise to 15 paise today as rates fell to nine-month low. In Delhi, petrol today retailed at 70 a litre while in Kolkata 72.7 a litre, in Mumbai 75.7 a litre and in Chennai 72.71 litre. Diesel prices were also cut by a similar margin today.

Petrol, diesel rates cut today to lowest in many months. Check latest prices
In Delhi, petrol today retailed at 70 a litre and diesel at 62.74 a litre

Diesel today retailed at 62.74 a litre in Delhi, the lowest price in about 15 months. Diesel was today sold at 65.07 in Kolkata, 65.68 in Mumbai and 66.19 in Chennai.


Prices of petrol and diesel were decontrolled in 2010 and 2014 respectively. Public sector oil companies revise fuel prices every day in line with international product prices and other market conditions. Other cost elements in the retail selling prices of petrol and diesel are excise duty, VAT, marketing cost and margins, dealers commission etc. The government had earlier clarified that the retail prices of petrol and diesel in the country are not linked to the international crude oil prices but are linked to the international prices of petrol and diesel.

India's fuel demand grew 4.5% in February from a year earlier, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Thursday.


India's demand for petrol used in passenger vehicles rose in February at its fastest since May last year, growing about 11.2% from a year earlier to 2.51 million tonnes. Diesel grew at its fastest in three months, rising 6.3% from a year earlier to 7.16 million tonnes, the data showed.

Diesel is used by trucks and heavy vehicles for transporting goods, and for powering generators and other equipment in industrial activities like mining and manufacturing.


However, India's fuel demand could ease in March as the number of people in the country testing positive for the coronavirus is rising and the government has issued travel advisories, leading to the cancellation of air tickets and hotels.

Oil prices plummeted this week after top producer Saudi Arabia slashed its selling prices amid a price war with Russia and pledged to unleash more supply onto a market already reeling from falling demand due to the virus.


Global oil prices today jumped almost 4%, reversing earlier losses sparked by the Saudi-Russia price war and fears about the economic impact of the coronavirus pandemic. Brent crude rose 3.7% to more than $34 a barrel.

However, oil prices have plummeted this month after top producer Saudi Arabia slashed its selling prices amid a price war with Russia and pledged to unleash more supply onto a market already reeling from falling demand due to the virus. (With Agency Inputs)

Credit: LiveMint
Live Mint





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