New Delhi: In a post-Holi cheer, petrol prices per litre in Delhi on Wednesday went down by Rs 2.69 at Rs 70.29, marking the cheapest fuel rates in about eight to nine months. Similarly, the price of diesel has also been slashed at Rs 63.01, down by Rs 2.33. Also Read - Central Govt May Increase Duty on Petrol, Diesel Again to Fight COVID-19 Outbreak
Similarly, in Mumbai, petrol is being sold at Rs 75.99 per litre and diesel at Rs 65.97 per litre. In Chennai, petrol now costs Rs 73.02 per litre whereas diesel is now priced at Rs 66.48 per litre. Meanwhile, in Bengaluru, petrol prices stand at Rs 72.70 and diesel at Rs 65.16. On the other hand, oil pumps Hyderabad are charging Rs 74.72 for petrol, Rs 68.60 for diesel. Also Read - Domestic Demand For Petrol, Diesel Drastically Declines Even on Lower Retail Prices
The declining trend of fuel prices started on February 27 causing fuel rates to slip by nearly Rs 5 per litre this year. The downward plunge is due to a free fall of crude oil prices following Saudi Arabia launching a price war in a market stabilisation exercise after no consensus arrived between OPEC and Russia. Also Read - Petrol, Diesel Price Today: Excise Duty on Petrol, Diesel Hiked by Rs 3 Per Litre Each
Crude oil prices have been reeling under the gloom due to the rapid spread on novel coronavirus. However, in India, the Congress had blamed against the Centre for not cutting fuel prices in tune with the reduced crude oil rates.