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Petrol, diesel prices reduced for second straight day even as oil recovers

Petrol in Delhi now costs Rs 70.29 a litre and diesel Rs 63.01 a litre; in Chennai, petrol costs Rs 73.02 and diesel Rs 66.48 a litre; in Mumbai, petrol costs Rs 75.99 and diesel Rs 65.97 a litre

BS Web Team  |  New Delhi 

Cess on Petrol Diesel
Analysts do not expect oil prices to quickly regain the nearly 25 per cent slump

Retail and prices fell sharply on Tuesday across India's metro cities, even as price rose by $2.31, or 6.7 per cent, to $36.67 a barrel, after a steep plunge on Monday. price in national capital Delhi saw a cut of Rs 3-4 a litre, while the price is the city was reduced by Rs 1-3. Fuel rates had seen a cut yesterday, too. And they are likely to maintain a declining trend through this week.

in Delhi now costs Rs 70.29 per litre and Rs 63.01 a litre. In Chennai, a litre of petrol will cost Rs 73.02 per litre, whereas diesel is now priced at Rs 66.48 per litre. In Mumbai, petrol is now selling at Rs 75.99 and diesel at Rs 65.97.

Analysts do not expect oil prices to quickly regain the nearly 25 per cent slump after Saudi Arabia and Russia failed to reach a deal, triggering a price war. Adding to the fire is the Coronavirus outbreak which is expected to force a demand slump.

Opposition Congress had earlier attacked the Centre for not cutting in tune with the global crude oil rates.

First Published: Tue, March 10 2020. 11:51 IST
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