Petrol Prices Continue To Fall, Touch Lowest Level In 2018: 5 Things To Know

Petrol prices fell on Saturday to touch a new low in 2018 across the four metros. The rates were decreased by up to thirty-one paise per litre in Delhi, Mumbai, Kolkata and Chennai, according to state-run Indian Oil Corporation's website, iocl.com. Currently, petrol and diesel prices are reviewed by state-run oil marketing companies every day, based on the international fuel prices and the value of rupee. This is because a large proportion of country's requirement is met through imports. 

Here are 5 things to know about petrol prices, diesel rates on Saturday:

1. In the national capital (Delhi), petrol was sold at Rs 69.26 per litre, 29 paise down from the Friday's levels of Rs 69.55 per litre, according to state-run Indian Oil Corporation's data. Cost of the fuel in Delhi fell below the Rs 70 per litre mark on December 24 for the first time in the year since January.

2. In Kolkata, Mumbai and Chennai too, prices of petrol fell to new lows for the year at Rs 71.37, Rs 74.89 and Rs 71.85 respectively, down from the previous levels of Rs 71.65, Rs 75.18 and Rs 72.16 per litre.

3. Diesel rates also declined in line with petrol. In Delhi, Kolkata, Mumbai and Chennai, diesel prices fell to Rs 63.32, Rs 65.07, Rs 66.25 and Rs 66.84, from the previous levels of Rs 63.62, Rs 65.37, Rs 66.57, Rs 67.16 per litre.

4. The decline in petrol, diesel rates come amid the recent fall in global crude oil prices. 

5. Oil prices fell to their lowest in a year-and-a-half earlier this week and are down more than 20 per cent for 2018, depressed in part by rising supply.

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