Petrol And Diesel Prices Cut Short Further On Thursday

Publish On: 12 Mar, 2020 10:59 AM | Updated   |   Harshita  

NEW DELHI: Petrol and diesel prices were cut short further on Thursday after their demand saw a drooping following the coronavirus scare. The deadly virus has been declared a pandemic by the WHO as the infected cases across the whole world including India is increasing. 

The price of diesel has been reduced by 12-13 paise and that of petrol has been dropped by 15-16 paise across major cities of India. 

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These are the detailed prices of petrol in these cities: 

Delhi- Rs 70.14 

Mumbai- Rs 75.84

Chennai- Rs 72.86

Kolkata- Rs 72.83

On the other hand, diesel prices now are:

Delhi- Rs 62.86 

Chennai- Rs 66.35

Mumbai- Rs. 65.84

Kolkata- Rs 65.22

After the Saudi Arabia and the United Arab Emirates vowed to boost production, the international crude oil prices fell on Wednesday. As a result, it escalated the global price war between OPEC and the allies. Brent was trading at $33.86 per barrel, down by 5.52 percent or by $1.98.

The travel industry has been badly impacted because of the novel COVID-19 after the United States banned travel to the country and Italy locked down the entire country for at least a month. 

The retail prices of fuel are dependent on the international crude prices and the rupee-US dollar exchange rate as India imports over 80 percent of its crude requirements.

Also Read: Markets Open On Negative Note On Wednesday
Oil marketing companies are reviewing domestic petrol and diesel prices on a daily basis. Implementations of price revisions at the fuel station are in effect from 6 am.