Petrol becomes cheaper by 9 paise in major cities, no change in diesel price on Tuesday
New Delhi: Following the daily revision in retail fuel rates, petrol prices fell by 9-10 paise for the sixth successive day while diesel prices remain stable across four metropolitan cities in the country on Tuesday (August 6). In Delhi, petrol prices declined to Rs 72.28 a litre as against Rs 72.37 per litre on Monday while diesel is retailing at Rs 65.94 a litre no change in price compared with yesterday’s price, according to data from Indian Oil Corporation website.
The retail fuel prices in the national capital are the cheapest among all metros due to lower taxes. On Monday, state-run oil marketing companies slashed petrol prices by 15-16 paise a litre across four metropolitan cities in the country.
In Chennai, citizens have to pay Rs 75.08 for a litre of diesel after a 10 paise decrease over Monday’s rate. Diesel prices were static from yesterday’s level at Rs 69.64 per litre Similarly, in Mumbai, the retail prices of petrol and diesel are Rs 77.93 a litre (9 paise less) and Rs 69.11 (unchanged) per litre, respectively.
In Kolkata, petrol became 9 paise cheaper today and is selling at Rs 74.97 per litre. There is no change in diesel price against Monday’s Finance Minister Nirmala Sitharaman, in her maiden budget, had announced the imposition of additional special excise duty of Re 1 per litre and road and infrastructure cess of Re 1 per litre on both petrol and diesel.
In Gurugram, petrol price was reduced by 7 paise from Rs 72.41 to Rs 72.34 a litre on Tuesday while diesel price was stable at Rs 65.22 per litre. In Noida, petrol price fell by 8 paise to Rs 71.78 a litre as against Rs 71.86 per litre while diesel prices were static from Monday’s level at Rs 65.10 a litre.
The pump price of fuel price in India is dependent on the global crude prices and the rupee-US dollar exchange rate as the country imports around 80 per cent of its crude requirements. The retail price of petrol rose by Rs 2.42 paise per litre and that of diesel by Rs 1.73 a litre in July.
On Friday, in the international oil market, crude prices went up, after earlier tumbling to its lowest since January, amid rising trade tensions between Washington and Beijing. Brent crude — the global benchmark — rose 47 cents, or 0.8 per cent, to USD 60.28 a barrel from their last close.
Brent prices have dropped 7.6 per cent since their close on July 31, the day before the Donald Trump administration pledged to impose new tariffs on Chinese imports, causing Beijing to retaliate against agricultural imports from the US.
