New Delhi: Petrol prices were at its lowest in 8 months and diesel at 3 months as the downward spiralling of oil prices continued for the past 6 weeks. Petrol and diesel prices have dipped by about Rs 10 and Rs 7, respectively in the time period.
Petrol prices were cut by 33 paise and diesel by 36 paise on Friday, bringing Petrol price to Rs 73.24 per litre in Delhi, Rs 78.80 in Mumbai, Rs 73.81 in Bengaluru, Rs 76.01 in Chennai and Rs 75.24 in Kolkata.
Diesel was priced at Rs 68.13 per litre in Delhi, Rs 71.33 in Mumbai, Rs 68.48 in Bengaluru, Rs 71.95 in Chennai and Rs 69.98 in Kolkata.
However, the gap between petrol and diesel price has narrowed in the last few months due to the difference in international benchmark rates for the two fuels.
US crude futures are close to the $50 barrel mark, a price last seen over a year ago. International benchmark Brent crude is trading below $60.
Petrol touches Rs 90/litre
Petrol price had touched a record high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai on October 4. 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.
Prices had started to climb from August 16. Petrol in Delhi was priced at Rs 77.14 per litre and in Mumbai it cost Rs 84.58 on August 15. Diesel was priced at Rs 68.72 per litre in Delhi and at Rs 72.96 in Mumbai.