New Delhi (05/03/2020): Petrol and diesel prices have decreased again on thursday after a day’s stability. Oil marketing companies on Thursday cut petrol prices by 15 paise in Delhi, Kolkata and Mumbai, while in Chennai, by 16 paise per liter. At the same time, the price of diesel has been reduced by nine paise in Delhi, Kolkata and Mumbai, while by 10 paise per liter in Chennai.
According to the website of Indian Oil, the price of petrol in Delhi, Kolkata, Mumbai and Chennai has come down to Rs 71.29, Rs 73.96, Rs 76.98 and Rs 74.07 per liter respectively. In the four metros, the price of diesel has also come down to Rs 63.94, Rs 66.27, Rs 66.96 and Rs 67.47 respectively. Market experts say that due to the steep fall in the price of crude oil in the international market, the price of petrol and diesel has been cut in the country, due to which consumers are relieved from the inflation.
Significantly, India imports about 84 percent crude oil for its needs, so the prices of petrol and diesel in the country depend on the price of crude oil in the international market. Outbreak of Coronavirus has started spreading from China to other countries of the world and due to fears that the global economy will be affected, the price of crude oil has come down drastically.
However, on Thursday, crude oil was trading at a fast pace, but if market experts are to be believed. Big boom is unlikely, as demand is weak