Petrol and diesel prices were cut marginally in metros on Thursday following three days of status quo. With effect from 6 am on Thursday, February 27, the price of petrol was lowered to Rs 71.96 per litre in Delhi from Rs 72.01 per litre and that of diesel was , the price of petrol was reduced by 5 paise to Rs 64.65 per litre, data from state-run Indian Oil Corporation showed. The rates of petrol and diesel in Mumbai were decreased by 5 paise per litre each to Rs 77.62 per litre and Rs 67.75 per litre respectively, according to Indian Oil, the country’s largest fuel retailer. (Also Read: How To Find Out Latest Petrol, Diesel Rates In Your City)
Here are the current prices of petrol and diesel in metros (February 27):
|City||Price In Rupees Per Litre|
Currently, petrol and diesel prices are reviewed by oil marketing companies – such as Indian Oil – on a daily basis, to bring them in line with international crude oil rates.
Any changes in the fuel prices, based on movements in crude oil and forex rates, are implemented at fuel stations with effect from 6 am.
International crude oil prices continued their downward spiral for the fifth day in a row to hit their lowest level recorded since January 2019.
Rising number of new coronavirus cases outside of China fuelled fears of a pandemic which could slow the global economy and lower crude demand, say analysts.
Brent crude – the global benchmark for crude oil – was last seen trading 1.2 per cent lower at $52.80 a barrel.
The rupee edged higher to 71.60 against the US dollar on Thursday, compared with its previous close of 71.60.