Petrol, Diesel Prices Cut For Fifth Consecutive Day

In a big relief to the people in this festive season, petrol and diesel prices have declined for the fifth consecutive day on Monday. Petrol prices were cut by 13 paisa per litre, while diesel prices were down by 12 paisa per litre in Delhi, Kolkata, Mumbai and Chennai.

According to the Indian Oil website, the petrol rates in Delhi, Kolkata, Mumbai and Chennai were: Rs 73.76/litre, Rs 76.40/litre, Rs 79.40/litre and Rs 76.61/litre, respectively.

The diesel rates in the four cities were: Rs 66.09/litre, Rs 69.27/litre, Rs 70.14/litre and Rs 71.68/litre.

The global crude oil prices also fell on Monday. The Brent crude rates were at $58.12 a barrel while the US West Texas Intermediate (WTI) crude was at $52.80 per barrel.

The fuel prices had seen a sharp rise after the September 14 drone attacks on a Saudi oil facility and a processing plant.

A day later, the Brent crude oil rates went up by $71.95/barrel. But, now the rates are gradually coming down and the Brent Crude rates have dipped by $14 per barrel.