Fuel retailers has kept the prices of petrol and diesel unchanged across the nation's major cities, marking a second straight day of pause after last week's hike in rates.
Fuel prices in several states across India continued the drop on Monday, post the Diwali week. On Sunday too, petrol and diesel prices remained unchanged across the country. Fuel prices have seen a marginal drop, below the Rs 80-mark which was crossed in the last week of September.
In New Delhi, a litre of petrol dropped below Rs 73 mark and today costs at Rs 72.98, while diesel costs around Rs 65.95, cheapest for all four major cities on the back of lower taxes. Similarly, petrol and diesel are selling for Rs 78.60 a litre and Rs 69.12 per litre in Mumbai respectively, same as Sunday's rates. In Kolkata, petrol price remained static at Rs 75.63 a litre and diesel costs Rs 68.31 per litre. In Chennai, too, petrol, diesel prices remained stable at Rs 75.79 a litre and Rs 69.65 a litre, respectively.
In the international oil market, crude prices eased after strong gains last week and traded marginally down on Monday, with international benchmark Brent Crude trading 0.19% lower at 61.90 per barrel. On Friday, Brent crude closed trading at just above $62 a barrel. Oil prices also found support after US President Donald Trump said he hopes to sign the deal with China's President Xi Jinping next month at a summit in Chile.
Last month, petrol prices crossed Rs 80 and diesel crossed Rs 70 in many districts across the country, following the surge in global crude prices due to drone strikes on Saudi Arabia's oil facilities.
By Rupa Burman Roy