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Corona Effects: Petrol, Diesel Price Drops, Diesel Falls Below Rs 64

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The price of diesel in the country’s capital Delhi drops for the first time since June last year to 64 rupees a liter, while the price of petrol is at a low level after July 2019. Diesel in Delhi is now Rs 63.94 a liter.


Inside:
  • Petrol and Diesel prices have come down again
  • Diesel price in Delhi Rs 63.94/ LTR
  • Petrol price in Delhi Rs 71.29/ LTR

Petrol and diesel prices drop again on Thursday after a day’s stability. The price of diesel in the country’s capital Delhi has come down from Rs 64 a liter since June last year, while the price of petrol is at a low level after July 2019. Diesel in Delhi is now Rs 63.94 a liter.

 

Corona Effects on Crude Oil 

Oil marketing companies on Thursday cut petrol prices by 15 paise in Delhi, Kolkata, and Mumbai, while Chennai by 16 paise per liter. At the same time, the price of diesel has been reduced by 9 paise in Delhi, Kolkata and Mumbai, while by 10 paise per liter in Chennai.

According to the website of Indian Oil, the price of petrol in Delhi, Kolkata, Mumbai and Chennai has come down to Rs 71.29, Rs 73.96, Rs 76.98 and Rs 74.07 per liter respectively.

In the four metros, the price of diesel has also come down to Rs 63.94, Rs 66.27, Rs 66.96 and Rs 67.47 respectively.

 

Steep Fall in Crude Oil Price 

Market experts say that due to the steep fall in the price of crude oil in the international market, petrol and diesel prices have been cut in the country, due to which consumers are relieved from the inflation.

Significantly, India imports about 84 percent crude oil for its needs, so the prices of petrol and diesel in the country depend on the price of crude oil in the international market. The outbreak of Coronavirus has started spreading from China to other countries of the world.

According to the news agency IANS, due to fears that the global economy will be affected, the price of crude oil has come down drastically. However, on Thursday, crude oil was trading at a fast pace, but according to market experts, however. There is no possibility of any major rise in the price of oil at present because the demand is very weak.

In the international market, the May deal of Brent crude, the benchmark crude oil on the Intercontinental Exchange, was trading at $ 51.83 per barrel, up 1.37 percent over the previous session. At the same time, US crude West Texas Intermediate’s April contract on the New York Mercantile Exchange was trading at $ 47.36 a barrel, up 1.34 percent from the previous session.

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