Petrol price falls below Rs 80 in Mumbai, Rs 75 in Bengaluru; check rates in other cities

Fuel prices witnessed yet another big cut on Tuesday morning following which petrol prices have come down below Rs 80 per litre in Mumbai for the first time after March 2018.

In Bangalore, petrol and diesel prices today retailed at Rs 74.65 and Rs 69.25, respectively. (Image: PTI)

Petrol, diesel price today: Fuel prices witnessed yet another big cut on Tuesday morning following which the petrol price has come down below Rs 80 per litre in Mumbai for the first time after March 2018. According to oil marketing companies (OMCs), fuel prices were reduced by 40-45 paise across major cities of the country bringing further relief to the commuters. In Mumbai, a litre of petrol was being sold at Rs 79.62 whereas in national capital the rates came down to Rs 74.07 a litre. Likewise in Kolkata and Chennai, petrol rates were revised to Rs 76.06 and Rs 76.88, respectively. Even diesel price also saw a big cut across the major cities of the country today. Diesel today retailed at Rs 68.89 in Delhi, Rs 72.13 in Mumbai, Rs 70.74 in Kolkata and Rs 72.77 in Chennai. In Bangalore, petrol and diesel prices today retailed at Rs 74.65 and Rs 69.25, respectively. In the month of November, prices of both petrol and diesel have come down by Rs 5 per litre. Comparing the relentless hike in fuel prices in the month of October, diesel price is down by Rs 6.5 per litre whereas rates of petrol have been cut down by Rs 7 a litre in major cities. Petrol rates had touched a record high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai on October 4. Likewise, diesel on that day had peaked to an all-time high of Rs 75.45 a litre in Delhi and Rs 80.10 in Mumbai. According to a report by news agency Reuters, the West Texas Intermediate (WTI) crude futures were at $51.52 per barrel at 0011 GMT, down 11 cents, or 0.2 per cent from their last settlement. International Brent crude oil futures had yet to trade, but had barely hung on to $60 per barrel at the end of the previous day after Friday’s price plunge, the report added. Fuel prices in India are dependent on the international prices of benchmark fuel and the exchange rate of rupee against the US dollar. This is because a large proportion of country’s requirement is met through imports.