PETROL PRICES LOWERS IN MAJOR CITIES
Petrol, diesel prices lowers on Saturday in the major cities of the country as the Indian rupee gets appreciated against US dollar and fall in crude oil price. Petrol prices became cheaper by 19-20 paise from Rs.70.46 to Rs. 70.27 while diesel prices came down by 22 paise from Rs. 64.39 to Rs. 64.19 in the capital.
In Mumbai, the price of petrol fell down by 1 rupee, from Rs. 76 to Rs. 75.89 and diesel price fell by few paise from Rs. 67.39 to Rs. 67.17 according to the data available on Indian Oil Corporation website. In Chennai and Kolkata, petrol is retailing at Rs. 72.91 and Rs. 72.36 as compared to Rs. 73.11 and Rs. 72.55.
The recent fall in the price of crude oil and appreciation of Indian Rupee by 2 percent against US dollar is the reason for the fall in price. This implies that the retail price of petrol and diesel is likely to fall further in the coming days.