Falling international crude oil prices have given room for Indian oil marketing companies to cut petrol and diesel prices for the second consecutive day. While petrol has been priced 21 paise lower in Delhi, diesel has been brought down by 20 paise.
After this, the price of petrol in Delhi has reached Rs 90.78 per litre and the price of diesel has become Rs 81.1 per litre. On Wednesday, the fuel prices were cut for the first time in more than a year following a fall in international crude prices. Before that, prices were last cut on March 16, 2020.
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After today's cut, petrol is retailing at Rs 97.19 in Mumbai, Rs 92.77 in Chennai and Rs 90.98 in Kolkata.
For diesel, the retail price for a litre in Delhi today is Rs 81.10, Rs 88.20 in Mumbai, Rs 86.10 in Chennai and Rs 83.98 in Kolkata.
The fuel price cuts have been effected as crude oil price has come down from a high of $71 per barrel to $64 per barrel. Earlier in February, petrol and diesel were hiked 16 times. However, the prices of petrol and diesel are still at a record high.