Amidst of the sixth phase of the Lok Sabha elections, prices of petrol and diesel have declined again. Petrol price was cut by 42 paisa per liter in Delhi and Kolkata on Sunday. Petrol prices in Mumbai decreased by 41 paise and Chennai by 44 paise per liter.
At the same time, diesel price has been cut by 17 paise in Delhi and 18 paise per liter in Kolkata, Mumbai and Chennai. This is the fourth consecutive day when prices of petrol and diesel have come down. In these four days, the petrol in the National Capital Region, Delhi has become cheaper by Rs 1.27 a liter and the price of diesel has also dropped 55 paise.
What is the new rate of petrol and diesel
According to IndianOil website, petrol prices in Delhi, Kolkata, Mumbai and Chennai have come down to Rs 71.73, Rs 73.79, Rs 77.34 and Rs 74.46 per liter, respectively. At the same time, the prices of diesel in four metros have come down to Rs 66.11, Rs 67.86, Rs 69.27 and Rs 69.88 per liter respectively.
Earlier on Saturday, prices of petrol and diesel were down for the third consecutive day. Petrol in Delhi and Mumbai has been cheaper by 48 paisa per liter and in Kolkata, the cost of petrol is 47 paise and in Chennai it is reduced by 50 paise per liter. Oil companies cut petrol prices by 19 paise in Delhi and Kolkata and 20 paise per liter in Chennai.
Indeed, the price of petrol and diesel has come down due to the fall in oil prices in the international market. However, many other factors are kept in mind in determining the price of petrol and diesel. Market analyst Anuj Gupta said, "The impact of heavy fluctuations in crude oil prices is seen on the price of petrol and diesel. However, oil companies keep many factors into consideration in price fixation. "
However, he also said that Brent crude in the international market is still above the $ 70 a barrel, so the scope for further price to fall in oil as low.
