Diesel Price Cut Down For the Second Day, Petrol Remains Unchanged Even After Fall In Global Oil Rates

State-run oil marketing companies (OMCs) have lowered diesel prices for the straight second day. However, diesel prices have been cut by 20 Paise per litre. The declining trend in diesel price might provide some comfort to citizens.

Even after a cut in the global oil prices, the petrol price remains unchanged for more than a month. Brent Crude Oil futures fell over 1.5 per cent to $67.49 per barrel — the lowest since late May.

Additionally, the international oil prices have fallen in the wake of rising cases of the Covid-19 Delta variant in different parts of the world. With this, the major oil-producing countries are worried about another collapse in global demand.

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With the fall in the global oil prices, the Indian customers are likely to get benefitted as state-run oil marketing companies may now start reducing domestic fuel rates.

Petrol Is Still Selling At Record High; Diesel Prices Cut

Now, petrol is being sold at its record high prices within the country. In the National Capital Region, petrol costs Rs 101.84 per litre and around Rs 108 per litre in Mumbai. In Kolkata, the petrol price remains nearly Rs 102 per litre and Rs 99.47 per litre in Chennai.

Alternatively, Oil Marketing Companies have cut diesel price by roughly 40 paise. Therefore, diesel is being retailed at Rs 89.47 per litre in Delhi and slight over Rs 97 per litre in Mumbai. The price for a litre diesel in Kolkata, you must pay Rs 92.57 and over Rs 94 in Chennai.

Also Read: Fuel Prices Remain Steady As Global Crude Oil Remains Weak: Check Prices Here

It is expected that if global fuel prices continue then the State-based OMCs may cut rates further. Meanwhile, the government has clarified that it will not be able to cut high taxes on fuel at the moment.

The Union Petroleum and Natural Gas Minister Hardeep Singh Puri said, “The government is “sensitive” towards the prices of petroleum products and added that all possible steps are being taken to address the issue.”

Mr Puri blamed Congress for this record-high oil prices. He also suggested that the state governments lower prices of petrol and diesel, citing Tamil Nadu’s move to cut taxes.

Earlier, Nirmala Sitharaman (Finance Minister) also blamed the UPA government for the existing trend of high fuel prices.

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