The domestic prices of petrol and diesel were cut by 7-15 paise across the metros on Tuesday. In Delhi, the rate of petrol was slashed to Rs 81.06 per litre from Rs 81.14 per litre and diesel was cut to Rs 71.28 per litre from Rs 71.43 per litre with effect from 6 am on September 22, according to notifications from Indian Oil Corporation (IOC), the country’s largest fuel retailer. This marks the sixth consecutive daily decline in the price of diesel. (Also Read: How To Find Latest Petrol, Diesel Rates In Your City)
Here are the prices of petrol and diesel (in rupees per litre) in the four metros on September 22:
|Source: Indian Oil|
State-run oil marking companies such as Indian Oil Corporation currently review the petrol and diesel prices on a daily basis, and implement any revisions at fuel stations with effect from 6 am. Indian Oil, Bharat Petroleum and Hindustan Petroleum account for the majority of fuel stations in the country
Meanwhile, oil prices plunged about 5 per cent on Monday, weakening as rising coronavirus cases stoked worries about global demand, and a potential return of Libyan production bolstered oversupply fears.
Brent crude settled down $1.71, or 3.96 per cent at $41.44 a barrel. U.S. crude fell $1.80, or 4.38 per cent to $39.31 a barrel. Both contracts were set for their biggest daily drops in two weeks.