Petrol, Diesel Prices Cut For Third Day In A Row
Petrol and diesel prices were reduced in metros on Saturday, March 7, marking a third straight downward revision. In Delhi, Mumbai, Kolkata and Chennai, the prices of petrol and diesel were lowered by 12-13 paise per litre with effect from 6 am on Saturday compared with existing rates, according to Indian Oil Corporation, the country's largest fuel retailer. In the national capital, the prices of petrol and diesel were revised to Rs 71.02 per litre and Rs 63.69 per litre on Saturday, from Rs Rs 71.14 per litre and Rs 63.81 per litre respectively. (Also Read: Here's How Much You Pay For Petrol And Diesel In Your City Today)
Here are the current prices of petrol and diesel in metros (March 7):
| City | Price In Rupees Per Litre | |
|---|---|---|
| Petrol | Diesel | |
| Delhi | 71.02 | 63.69 |
| Kolkata | 73.70 | 66.02 |
| Mumbai | 76.71 | 66.69 |
| Chennai | 73.78 | 67.21 |
| Bengaluru | 73.45 | 65.86 |
| Hyderabad | 75.49 | 69.34 |
| Ahmedabad | 68.54 | 66.66 |
| Pune | 77.14 | 66.07 |
| Visakhapatnam | 75.02 | 68.95 |
| Surat | 68.45 | 66.58 |
| Jaipur | 74.81 | 68.59 |
| (Source: iocl.com) | ||
Currently, petrol and diesel rates vary in different parts of the country, depending on factors such as depending on taxes and transportation cost.
Oil marketing companies such as state-run Indian Oil Corporation review the rates on a daily basis, and adjust the domestic prices with effect from 6 am depending on crude oil and foreign exchange rates.Â
The rupee plunged by 54 paise to settle at 73.87 against the US dollar on Friday.Â
Crude oil prices suffered their biggest daily loss in more than 11 years. Brent crude futures - the global benchmark for crude oil rates - logged their its biggest daily percentage fall since December 2008, down $4.72, or 9.4 per cent, to settle at $45.27 a barrel. It was Brent's lowest closing price since June 2017.
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