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Petrol prices fall to lowest level in 2018 across four metros, diesel prices also decline

According to Indian Oil Corp's website, petrol price was at Rs 69.26 per litre in national capital Delhi on Saturday, 29 paise down from the Friday's levels of Rs 69.55 per litre.

India TV Business Desk Edited by: India TV Business Desk
New Delhi Published on: December 29, 2018 21:08 IST
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Petrol prices fall to lowest level in 2018 across four metros

The cost of petrol touched fresh low levels for 2018 across all the four metros of India on Saturday.

According to Indian Oil Corp's website, petrol price was at Rs 69.26 per litre in national capital Delhi on Saturday, 29 paise down from the Friday's levels of Rs 69.55 per litre.

On December 24, the cost of the fuel in Delhi fell below the Rs 70 per litre mark for the first time in the year since January.

In Kolkata, Mumbai and Chennai too, prices of the fuel fell to new lows for the year at Rs 71.37, Rs 74.89 and Rs 71.85 respectively, down from the previous levels of Rs 71.65, Rs 75.18 and Rs 72.16 per litre.

The decline in domestic fuel prices comes amid the recent fall in global crude oil prices. 

As per the country's dynamic pricing mechanism, the domestic fuel prices depend upon international fuel prices on a 15-day average and the value of the rupee.

Diesel prices also declined in line with petrol. In Delhi, Kolkata, Mumbai and Chennai, diesel prices fell to Rs 63.32, Rs 65.07, Rs 66.25 and Rs 66.84, from the previous levels of Rs 63.62, Rs 65.37, Rs 66.57, Rs 67.16 per litre.

(With IANS inputs)

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