Petrol, Diesel Prices Go Down For Two Days In A Row
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Fuel price rates continued a downward trend for the second day on Friday. Delhi, Kolkata, and Mumbai saw a decline of 18 paisa a litre on petrol and Chennai 19 paisa per litre. Similarly, diesel rates also reduced by 8 paisa a litre in Delhi, Kolata and Mumbai and in Chennai the reduction was by 9 paisa a litre.
“This festive season has seen the prices of fruit and vegetable soar. The rising fuel prices are one of the major factors for this. Now that the fuel rates are coming down, the consumers may benefit,” said Anuj Gupta, Vice-President of Angel Broking.
As per the Indian Oil website, the new rates on petrol in Delhi, Kolkata, Mumbai and Chennai are Rs 74.33/litre, Rs 76.96/litre, Rs 79.93/litre and Rs 77.21/litre, respectively. The diesel rates after the decline are Rs 67.35/litre, Rs 69.71/litre, Rs 70.61/litre and Rs 71.15/litre, respectively.
The fuel price has seen a decline for the past two days and in Delhi petrol rates have come down by 28 paisa/litre and diesel by 14 paisa/litre. Gupta said that the fuel rates will come down further as the brent crude oil price is declining.
The fuel prices have seen a sharp rise after the drone attack on a Saudi oil facility on September 14. The Brent crude oil rates went up by $71.95 /barrel. But, now the rates are gradually coming down and the Brent Crude rates have come down by $14 per barrel.
Questions & Answers
Q.What is the new price of petrol in Delhi?
What is the new price of petrol in Delhi?
Following the recent decline, the new rate for petrol in Delhi is Rs 74.33 per litre. This marks a decrease for the second consecutive day.
Q.Which cities saw the largest decrease in petrol prices?
Which cities saw the largest decrease in petrol prices?
Chennai experienced the largest decrease in petrol prices, with a reduction of 19 paisa per litre. Delhi, Kolkata, and Mumbai saw a slightly smaller decline of 18 paisa per litre.
Q.Why are fuel prices expected to fall further?
Why are fuel prices expected to fall further?
Fuel prices are expected to fall further because the price of Brent crude oil is declining. Anuj Gupta stated this trend could continue, benefiting consumers.
Q.What caused the previous sharp rise in fuel prices?
What caused the previous sharp rise in fuel prices?
The previous sharp rise in fuel prices was due to a drone attack on a Saudi oil facility on September 14. This event caused Brent crude oil rates to go up significantly.