Petrol and diesel prices remained unchanged today. On Tuesday, petrol prices were slashed by 30 paise per litre and diesel prices were cut by 25 paise. Petrol and diesel prices are the lowest in several months, with petrol being sold at a nine-month low price, while diesel at a 13-month low rate.
Crude oil prices suffered a massive slump of 25 per cent after Saudi Arabia declared a price war with Russia, which caused petrol and diesel price fall in India.
In the national capital, a litre of petrol is at Rs 70.29 per litre and diesel is at Rs 63.01. In Mumbai, a litre of petrol is priced at Rs 75.99 while diesel is priced at Rs 65.97 per litre. In Chennai, petrol is at Rs 73.02 and diesel is at Rs 66.48. In Bengaluru, a litre of petrol can be bought at Rs 72.70 and diesel is at Rs 65.16. In Hyderabad, petrol is at Rs 74.72 per litre while diesel is at Rs 68.60 per litre. In NCR's Gurgoan petrol is at Rs 70.76 per litre and diesel is at Rs 62.69 per litre.
Oil marketing companies are taking into account a complex algorithm comprising of a 15-day average of international prices of petrol and diesel along with the value of rupee against the US dollar. Any effect of rapid change in oil prices across the world gets instantly reflected in the prices of petrol and diesel in India.
Congress, in the aftermath of the drastic reduction in crude oil prices, has demanded that the government cut petrol, diesel prices. Rahul Gandhi in a tweet on Wednesday had demanded that petrol prices should be brought below Rs 60 per litre. He said to the Prime Ministers Office, "Could you please pass on the benefit to Indians by slashing #petrol prices to under 60 per litre? Will help boost the stalled economy."
Hey @PMOIndia , while you were busy destabilising an elected Congress Govt, you may have missed noticing the 35% crash in global oil prices. Could you please pass on the benefit to Indians by slashing #petrol prices to under 60₹ per litre? Will help boost the stalled economy.- Rahul Gandhi (@RahulGandhi) March 11, 2020
Internationally, the crude oil prices recovered nearly half of Monday's 25% plunge, according to LiveMint. Brent crude oil rates jumped 8.3% yesterday and around 4% today.