After being on the rise for several months, fuel prices now seem to be on a slide. As a result of fall in international prices of crude oil and appreciation of rupee, fuel prices reduced for the sixth consecutive day on Tuesday.
The petrol and diesel prices have slashed down by almost 3 and 2 rupees respectively, this month. Petrol reduced by 14 paise to Rs 76.38 in Delhi while diesel price stood at Rs 71.27 as against Monday’s rate of Rs 71.39. In Mumbai, petrol was priced at Rs 81.90 and diesel reached Rs 74.66.
In Chennai, petrol was retailing at Rs 79.31 and diesel was sold at Rs 75.31 per litre while in Kolkata petrol and diesel was priced at Rs 78.33 and Rs 75.31 per litre respectively. Petrol was sold at Rs 74.94 in Noida while diesel was priced at Rs 69.63 per litre.
Due to slow demand growth and surging supply, crude price remained low, around 25 per cent below their recent peaks in October.