New Delhi: Petrol and diesel prices continued the downward trend on Saturday as well. The prices are slashed again as international crude oil prices continued to fall and the Indian rupee strengthened against the US dollar. On Saturday, while petrol prices witnessed a fall of 30-45 paise, diesel prices witnessed major cut of 45-86 paise per litre across all major cities of the country.
After today’s price cut, petrol in Delhi was retailing at Rs 75.25 per litre compared to Rs 75.57 on Friday while diesel was retailing at Rs 70.16 as against Rs 70.56 per litre, yesterday. In Mumbai, petrol became cheaper by 31 paise per litre from Rs 81.10 on Friday to Rs 80.79 today. Diesel price was cut by 43 paise per litre to Rs 73.48 per litre.
In other metro cities like Chennai and Kolkata, petrol was priced at Rs 78.12 and Rs 77.22 against Rs 78.46 and Rs 77.53 respectively on Friday. In Kolkata, diesel prices witnessed an 81 paise cut from Rs 72.83 per litre on Friday to Rs 72.01 on Saturday. In Chennai, diesel price went down by 86 paise from Rs 74.99 per litre on Friday to Rs 74.12 today.
In Noida, petrol was retailing at Rs 74.05 today compared to Rs 74.30 yesterday. Diesel price in the city went below Rs 69 today after the price cut and it was retailing at Rs 68.68 compared to Rs 69.02 per litre on Friday.
It may be noted that oil prices slumped to 2018 lows on Saturday in morning trading. Brent crude oil futures hit their lowest since December 2017 at $59.04 per barrel.
Also, in the month of November so far, petrol prices have come down by nearly Rs 4.50 per litre while diesel has become cheaper by almost Rs 4 across major cities of the country. The recent cut in fuel prices has given a big relief to consumers and will have a positive impact on the country’s inflation reading, which the RBI uses for taking decisions on policy rates.