Petrol, Diesel Rates Remain Steady For Fifth Day As International Oil Prices Witness Dip

If the global crude price remains below $ 70 per barrel for a few more days, then there may be a cut in the prices of petrol and diesel in the coming days.

Representative Photo

New Delhi: Fuel prices remain unchanged for the fifth consecutive day offering relief to motorists. It is the longest time since prices remain stagnant. Petrol is being sold at Rs 101.84 per liter in the national capital, while diesel is costing Rs 89.87 per litre. Last week, the petrol price was increased by 30 paise per liter, while diesel prices remain unchanged.

While the price of petrol in Mumbai city crossed Rs 100 for the first time on 29 May, the price of petrol stands at Rs 107.83 per liter. The diesel in the financial city costs Rs 97.45, which remains highest among the metros cities. Petrol prices in metros have breached the psychological mark of Rs 100 per litre.

Petrol and diesel price today in major cities

            Petrol                           Diesel

Mumbai-  Rs 107.83               Rs 97.45 per liter

Kolkata -Rs 102.08                Rs 93.02 per liter

Chennai-  Rs 102.49              Rs 94.39 per liter

Bengaluru -Rs 105.25             Rs 95.26 per liter

Lucknow - Rs 98.69                Rs 90.26 per liter

Patna       -Rs 104.57              Rs 95.81 per liter

Jaipur -       Rs 108.71           Rs 99.02 per liter

Gurugram -  Rs 99.46             Rs 90.47 per liter

Hyderabad - Rs 105.52           Rs 97.96 per liter

Ranchi         -Rs 96.45            Rs 94.84 per liter

Pune           -Rs 107.10           Rs 95.54 per liter

Fuel prices are likely to reduce if the trend continues. 

Customers, who have been bearing the brunt of oil prices in the last few months, are expected to witness relief in the next few days as oil companies start evaluating the decline in global oil prices. Benchmark Brent crude, which had risen to $77 a barrel at the end of June, has fallen more than 10 per cent to $68.85 a barrel in the past fortnight. If the global crude price remains below $ 70 per barrel for a few more days, then there may be a cut in the prices of petrol and diesel in the coming days.

The impact of softening of prices is already being seen on the volatility in oil prices. On Thursday also, OMCs did not change the retail price of petrol and diesel. This is the fifth day in a row, and the longest period in weeks when fuel prices have remained stable.