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Petrol Diesel Prices Likely To Drop By Rs 14 Per Litre-Check New Price Here.

Petrol Diesel Prices Likely To Drop By Rs 14 Per Litre-Check New Price Here.

Fuel prices: There is some good news for the people.

The prices of petrol and diesel in the country may come down by up to Rs 14. This is because of the fall in the price of crude oil. Crude oil (Brent) prices in the international market are at a low level since January. It has now come down to $81 while the US crude is close to $74 per barrel.

Petrol And Diesel Rates
Petrol And Diesel Rates

PETROL, DIESEL PRICES MAY COME DOWN FOR FIRST TIME SINCE MAYIn particular, the significant drop in crude oil prices has brought down the average crude oil price (Indian basket) for Indian refineries to $82 per barrel. It was $112.8 in March. According to this, in 8 months, the price of crude oil for the refining companies has decreased by $31 (27%).

According to SMC Global, the country’s oil companies save 45 paise per liter on refining for every $1 fall in crude. Accordingly, the reduction in the price of petrol-diesel will be Rs.14 per litre. However, according to experts, the entire reduction will not happen in one go.

Due to the fall in the price of crude oil, the rates of petrol and diesel in the country may drop by up to Rs 14 per litre, according to the various reports. Crude oil prices in the international market are at a low level since January.

Meanwhile, amid dip in the price of crude oil in the international market, the Indian oil companies have kept The petrol and diesel prices unchanged today for the 196th day in a row on Saturday i.e. December 3.

The last time petrol and diesel prices declined in the entire country was on May 22, a day after the Centre slashed the excise duty by Rs 8 per litre on petrol and Rs 6 per litre on diesel on May 21. This reduction in the excise duty brought the price of a litre of petrol and diesel down by Rs 9.5 and Rs 7, respectively.

Fuel Price Cut Prediction

In the wake of these developments, IIFL Securities director and veteran market expert Sanjiv Bhasin on Friday predicted that petrol and diesel rates could be slashed by at least Rs 5 on Monday.

‚ÄúOn Monday you could see at least Rs 5 cut in petrol and diesel prices because of a fall in crude,‚ÄĚ he was quoted as saying by Zee Business.

Diesel and petrol prices today across major cities in the country:

S. No. City Petrol price per litre (In Rs.) Diesel price per litre (In Rs.)

  1. Delhi 96.72 89.62
  2. Mumbai 106.31 94.27
  3. Kolkata 106.03 92.73
  4. Chennai 102.63 94.24
  5. Bengaluru 101.94 87.89
  6. Lucknow 96.57 89.76
  7. Visakhapatnam 110.48 98.27
  8. Ahmedabad 96.63 92.38
  9. Hyderabad 109.66 97.82
  10. Patna 107.24 94.04
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