The general public can get a big relief in the festive season as prices of petrol and diesel in the domestic market may reduce. This is due to the ongoing selling of crude oil in the international market.
It is expected that the prices of petrol and diesel can be cut by Rs 2 to Rs 3 per litre. At present, brent crude is trading below USD 92 per barrel in the global market. It fell about 5 per cent on Wednesday.
The fall in crude oil prices
The continuous fall in crude oil prices will have a positive effect on the Indian economy. Due to this, the prices of petrol and diesel in the domestic market will come down. With this, the retail inflation rate will also come down.
No change in fuel prices since May 22
On May 22, the prices of petrol and diesel saw a cut after the excise duty was reduced by the government. However, after this, the price of oil has also changed in Maharashtra and Meghalaya.
Delhi – Petrol Rs 96.72 and Diesel Rs 89.62 per litre
Mumbai – Petrol Rs 111.35 and Diesel Rs 97.28 per litre
Chennai – petrol Rs 102.63 and diesel Rs 94.24 per litre
Kolkata – Petrol Rs 106.03 and Diesel Rs 92.76 per litre
Noida – Petrol Rs 96.57 and diesel Rs 89.96 per litre
Lucknow – Petrol Rs 96.57 and diesel Rs 89.76 per litre