New Delhi: After almost a month, diesel prices witnessed a price cut on Wednesday as petrol prices continued to remain unchanged. The diesel price came down by 20 paise per litre, according to a price notification by  Indian Oil Corporation.


What Are Latest Prices?


In the national capital, a litre of diesel is costing Rs 89.67 per litre on Wednesday while in Mumbai, diesel rates were slashed by 21 paise/litre. Diesel price stands at Rs97.24/litre while the petrol prices remained unchanged at Rs107.83/litre.


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In Kolkata, petrol is retailed at Rs102.08 per litre and diesel prices stand at Rs 92.82 per litre. In Chennai, petrol prices stood Rs102.49 per litre while diesel is costing 94.20 per litre.


In Bangalore, the diesel price is Rs 95.05 per litre.


Diesel remains the most used fuel and costliest in places including Rajasthan, Odisha and Madhya Pradesh.


Meanwhile, Finance Minister Nirmala Sitharaman has said there is no room for a cut in excise duty on petrol, diesel due to oil bonds. The principal outstanding on the oil bonds is Rs 1.3 trillion, the FM said. The government has to repay Rs 10,000 crore in the current fiscal year, another Rs 31,150 crore in 2023-24, Rs 52,860 crore in the following year, and Rs 36,913 crore in 2025-26.


The statement comes amid fuel prices being all-time high in most states. More than half the country has petrol at over Rs 100 a litre, while diesel is above that level in Rajasthan, Madhya Pradesh, and Odisha.


Crude oil prices remained weak due to low demand in Asia. The strong dollar and the rising cases of Covid-19 in Japan have impacted the demand, according to a Reuters report. Brent crude ended its session by dropping 48 cents, or 0.7 per cent which left the final price at $69.03 per barrel. On the other hand, US West Intermediate crude (WTI) went down by 70 cents, or 1 per cent, leaving the price per barrel at $66.59, the report mentioned. Additionally, the Dollar also advanced for a second straight session on Tuesday, which has made oil more expensive for holders of other currencies, according to Reuters.


The last increase took the petrol price in Delhi near Rs 102 per litre mark. The petrol price in New Delhi soared to Rs 101.84 a litre.