Domestic prices of petrol and diesel were marginally lowered by 7-15 paise in all major metropolitan cities on Tuesday. The latest cut in diesel price marks the sixth consecutive day as the product prices fell globally while crude prices remained steady. Along with this, oil marketing companies also gave marginal relief to petrol consumers by reducing its pump prices after keeping the prices unchanged for previous three days.
In the national capital, diesel prices fell by 15 paise per litre to Rs 71.28 a litre down from Rs 71.43 per litre on Monday. Similarly, petrol prices also fell marginally by 8 paise per litre to Rs 81.06 per litre.
With the price cut on Tuesday, diesel has now become cheaper by Rs 2.28 per litre in Delhi this month. Petrol price fall has been relatively slower at Rs 1.04 per litre in September.
In the other metros of Mumbai, Chennai and Kolkata, diesel prices fell between 13-15 paisa per litre while petrol prices came down by 7-8 paisa per litre.
In the city of Mumbai petrol and diesel now costs at Rs 87.14 and Rs 76.72 per litre respectively. While in Chennai petrol was at Rs 84.14 and diesel was at Rs 76.72 per litre.
In the eastern city of Kolkata prices of petrol and diesel on Tuesday were at Rs 82.59 and Rs 74.80 per litre respectively.
The price fall is on the back of expectation of slowing demand for oil globally as a second wave of coronavirus spike threatened further derailment of economic activity. Though crude prices revived slightly on Tuesday after falling continuously for last few days, it is expected to remain soft on demand expectations.
For domestic auto fuel consumers, the price fall has been a bonanza amid the current tough economic conditions.