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Petrol cut by 19 paise, diesel sees 9 paise drop in price; check out latest fuel rates today

BusinessToday.In     October 4, 2019

Petrol and diesel saw a further cut of up to 19 paise on Friday, posting second consecutive fall after Thursday's cut of up to 9 paise in fuel prices. While petrol saw 18-19 paise cut, diesel prices were cut by 8-9 paise across four major cities, including Delhi, Mumbai, Chennai, and Kolkata. Petrol is cheapest in Delhi at Rs 74.33 per litre, while its costliest in Mumbai at 79.93 per litre. Diesel is also the cheapest among the four cities in Delhi at 67.35 per litre, while it's costliest in Chennai at 71.15 per litre.

Petrol, diesel prices in the four metropolitan cities:

  • Delhi: Petrol - Rs 74.33; Diesel - Rs 67.35
  • Mumbai: Petrol - Rs 79.93; Diesel - Rs 70.61
  • Kolkata: Petrol - Rs 76.96; Diesel - Rs 69.71
  • Chennai: Petrol - Rs 77.21; Diesel - Rs 71.15
The continuous spike in fuel prices was propelled by the drone attack on Saudi oil facilities that disabled around 5 per cent of the global supply. Not only fuel prices in India were impacted as the aftermath, but retailers were also scouring the market for liquefied petroleum gas (LPG) ahead of the festive season. India depends on Saudi Arabia for a fifth of its oil imports and buys around 2,00,000 tonnes of LPG every month. While the price of petrol and diesel is impacted by the global crude price and the value of rupee, the Saudi Arabia drone attack compounded the increase in prices.

However, Reliance Industries that sources a significant share of its crude from Saudi Aramco has said that the company has confirmed and reassured supplies for October will be maintained. A spokesperson for RIL said, "In the immediate aftermath of the incident, Aramco maintained supply with alternate grades of crude oil. The alternate grades being heavier suited Reliance's refining needs. Aramco has confirmed and assured that supplies for October will be maintained both in terms of quantity and mix of grades as per our requirement."

Also read: Petrol touches Rs 80 per litre in Mumbai; check out latest fuel prices across major cities

Also read: LPG supply in India takes a hit after drone attack on Saudi Aramco facilities

Edited by Manoj Sharma


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