Tuesday, March 28, 2023
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Diesel prices fall for 6th day, petrol trims marginally

Diesel prices continued to decline for the sixth consecutive day on Tuesday as the product prices fell globally while crude prices remained steady.

Along with diesel, oil marketing companies also gave marginal relief to petrol consumers by reducing its pump prices after keeping the prices unchanged for the previous three days.

In the national capital, diesel prices fell by 15 paise per liter to Rs 71.28 a liter down from Rs 71.43 per liter on Monday. Similarly, petrol prices also fell marginally by 8 paise per liter to Rs 81.06 per liter.

In the other metros of Mumbai, Chennai, and Kolkata, diesel prices fell between 13-15 paisa per liter while petrol prices came down by 7-8 paisa per liter.

With the price cut on Tuesday, diesel has now become cheaper by Rs 2.28 per liter in Delhi this month. The petrol price fall has been relatively slower at Rs 1.04 per liter in September.

The price fall is on the back of expectation of slowing demand for oil globally as the second wave of coronavirus spike threatened further derailment of economic activity. Though crude prices revived slightly on Tuesday after falling continuously for the 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.

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