Petrol and diesel prices fell for the fourth consecutive day on Sunday. Oil marketing companies continued to cut fuel prices by 18-20 paise per litre across different metro cities.
Petrol prices in the national capital reached below Rs. 71-mark, its lowest level since September 12, 2019. Whereas, diesel has touched its lowest level since January 12 last year.
Petrol prices have dropped 61 paise a litre in the National Capital Region (NCR) over the past four days, while the prices of diesel have come down by 52 paise a litre.
The consumers heaved a sigh of relief as the fuel prices have continued to fall due to the sharp fall in the prices of crude oil in the international market in wake of the coronavirus outbreak.
Oil marketing companies on Sunday cut petrol prices by 19 paise in Delhi and Kolkata, 18 paise in Mumbai and 20 paise a litre in Chennai. While, diesel dipped 18 paise in Delhi and Kolkata, 19 paise in Mumbai and 20 paise in Chennai.
According to the Indian Oil’s website, the prices of petrol in Delhi, Kolkata, Mumbai and Chennai have come down to Rs. 70.83, Rs. 73.51, Rs. 76.53 and Rs. 73.58 per litre, respectively.
In the four metro cities, the prices of diesel have slipped to Rs. 63.51, Rs. 65.84, Rs. 66.50 and Rs. 67.01, respectively.
On Friday, Brent crude prices fell nearly nine per cent in the international market, its biggest daily percentage fall since December 2008, while WTI prices saw the biggest one-day decline since November 2014.
Brent crude has fallen nearly 37 per cent so far this year. On January 8, 2020, the crude oil, which had touched $71.75 per barrel, dropped to $45.19 per barrel on Friday.