New Delhi: Petrol and diesel prices in the country again dropped on Thursday (March 25) due to a decline in crude oil prices in the global market. After the daily revision in retail transportation fuel rates, petrol prices dipped by 18-21 paise while diesel prices fell by 19-22 across the major cities in the country.
In Delhi, petrol prices declined to Rs 90.78 (21 paise less) a litre as against Rs 90.99 on Wednesday while diesel price fell to Rs 81.10 per litre as compared to Rs 81.30 a litre on Wednesday, as per data from Indian Oil Corporation (IOL) website. In the last two days, the pump prices of petrol have fallen up by about 39 paise a litre while the price of diesel plunged by 37 paise per litre in the national capital.
In Mumbai, petrol is available at Rs 97.19 a litre, down 21 paise compared with yesterday’s price of Rs 97.40 a litre, and a litre of diesel will cost Rs 88.20, 22 paise less than yesterday’s rate. Likewise in Kolkata, the retail prices of petrol and diesel are Rs 90.98 (20 paise decrease) a litre and Rs 83.98 (20 paise less) a litre respectively.
Petrol price dropped by 18 paise today in Chennai and is selling at Rs 92.77 per litre while diesel rate is retailing at Rs 86.10 a litre, 19 paise less than yesterday’s price. Worth mentioning here is that state-run oil marketing companies (OMCs) on Wednesday for the first time in a year slashed the auto fuel rates because crude prices in the international market tumbled to the lowest since early February.
During the discussion on The Finance Bill, 2021, on Wednesday, several members of opposition parties criticised the government over all-time high rates of auto fuels.
Meanwhile, senior Bharatiya Janata Party (BJP) leader Sushil Modi said that the issue of bringing petrol and diesel under the goods and services tax (GST) regime is not possible for the next eight to 10 years as it would cause an annual revenue loss of Rs 2 lakh crore to all states.
On Thursday, in the global oil market, Brent crude prices tumbled around 2 per cent because demand concerns re-appeared alongside new Covid-19 pandemic lockdowns. Benchmark Brent Crude oil futures were trading at $63.27 per barrel, down $1.14, or 1.8 per cent, from their last close. West Texas Intermediate (WTI) crude futures fell by $1.27 or 2.1 per cent, to $59.91 per barrel.
Courtesy – Timesnownews