Diesel Drops 16 Paise/Litre For The First Time In 3 Months


New Delhi: For the first time in three months, diesel price was dropped by 16 paise per litre on Monday. Meanwhile, petrol price has surged by 28 paise, the 39th hike since May 4.

The first diesel price reduction in about three months came after international benchmark Brent crude fell by $1.61 a barrel or 2.06% at the Friday close, compared to its peak of $77.16 last Monday.

Domestic fuel retailers align pump prices of petrol and diesel with their respective international benchmarks of previous day, which often move in tandem with crude oil rates. International oil markets do not operate on weekends.

Petrol price on Monday crossed the Rs 107-per-litre mark in Mumbai after the fuel rate was hiked yet again.

After the latest revision, petrol now costs at Rs 101.91 in Delhi, whereas diesel is retailing at Rs 89.72.

In Mumbai, where petrol price crossed Rs 100 mark for the first time ever on May 29, the fuel price reached new high of Rs 107.20 per litre on Monday. While diesel price has declined to Rs 97.29 per litre.

The price of petrol and diesel in Chennai was Rs 101.92 and Rs 94.24 per litre respectively and Rs 101.35 and Rs 92.81 per litre in Kolkata.

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