Fuel Price update: Diesel price drops, Petrol remains stable

On Thursday, Diesel prices have seen a change for the second day in a row. Petrol prices have maintained their unchanged status for 33 days. Diesel prices have dropped by 19 to 20 paise across the major metro cities across the country. The last hike was on July 17 for petrol and July 15 for diesel. The stable prices of diesel have changed on Wednesday when the price of diesel had dropped by 19 to 21 paise for the metro cities.

Over the last 33 days, the petrol price in Mumbai has remained at Rs 107.83 per litre. In Delhi, the petrol is retailing at Rs 101.84 per litre. In Kolkata, petrol is priced at Rs 102.08 per litre. Bangalore is retailing petrol at Rs 105.25 per litre.

In Delhi, diesel prices had dropped by 20 paise. Now the price of diesel in Delhi is standing at Rs 89.47 per litre. In Mumbai, the price of diesel had fell down to Rs 97.04 per litre. Chennai is retailing diesel at Rs 94.02 per litre. In Kolkata and Bangalore, the price of diesel decreased by 25 paise and 19 paise respectively. 

On Wednesday, crude oil prices had dropped again for the fifth day in a row. As per the reports by Reuters, "This came in light of investors being worried over the rising level of Covid-19 cases across the world, just as more supply reached the market from large global producers."

Reuters added, "Oil benchmarks have also been under pressure to the surge in Delta variant infections worldwide. Brent crude oil futures was down 80 cents or 1.2 per cent, leaving the final price at $68.23 per barrel. The global benchmark lost a total of 11 per cent over the last 13 trading days. US crude futures, on the other hand, had settled down by $1.13 or 1.7 per cent, which left the final price at $65.46 per barrel of crude oil."