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Fuel rates slashed by over Rs 2; check out petrol, diesel prices today

Crude oil prices climbed on Wednesday, lifted by hopes that US producers will cut output but gains were limited compared with Monday's crash after Saudi Arabia and Russia triggered a price war

twitter-logo BusinessToday.In   New Delhi     Last Updated: March 11, 2020  | 10:35 IST
Fuel rates slashed by over Rs 2; check out petrol, diesel prices today
In Delhi, petrol was cut by Rs 2.69 per litre to Rs 70.29 per litre

Petrol and diesel prices were reduced by over Rs 2 per litre across major metropolitan cities of the country. In Delhi, petrol was cut by Rs 2.69 per litre to Rs 70.29 per litre, while diesel saw Rs 2.33 cut to Rs 63.01 per litre. A major reason for the drop in fuel prices is the biggest rout in crude oil prices in the past 30 years on Monday.

Petrol, diesel prices in four major cities today:

  • Delhi: Petrol - Rs 70.29; Diesel - Rs 63.01
  • Mumbai: Petrol - Rs 75.99; Diesel - Rs 65.97
  • Kolkata: Petrol - Rs 72.98; Diesel - Rs 65.34
  • Chennai: Petrol - Rs 73.02; Diesel - Rs 66.48

Crude oil prices plunged about 25 per cent on Monday but rebounded on Tuesday along with equities and other financial markets. Oil prices climbed on Wednesday, lifted by hopes that US producers will cut output, but gains were limited compared with Monday's crash after Saudi Arabia and Russia triggered a price war, Reuters reported.

Also read: You'll have to pay more for petrol, diesel from April 1; here's why

Brent crude futures rose $1.44, or 3.9 per cent, to $38.66 a barrel by 0226 GMT, while US West Texas Intermediate (WTI) crude gained $1.12, or 3.3 per cent, to $35.48 a barrel, following a jump of over 8 per cent the previous day.

Also read: Coronavirus to have larger economic impact than SARS, says OECD

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