New Delhi: diesel price It was cut by 20 paise per liter on Thursday – the second straight day of cuts, but petrol rates remained unchanged.
According to the price notification by state-run oil companies, the price of diesel in Delhi has been reduced from Rs 89.67 per liter to Rs 89.47 per litre.
This reduction has come after a similar reduction on Wednesday.
Just like Wednesday petrol price Thursday was not modified. The price of petrol in Delhi stood at Rs 101.84 per liter.
The price cut comes after international oil prices fell to their lowest level since May, when the US Federal Reserve signaled it would begin reducing asset purchases within months, hurting commodities and Will raise the dollar.
While Brent fell $2.13 to $66.10 a barrel, West Texas Intermediate fell $2.39 to $63.07 a barrel.
India is about 85 per cent dependent on imports to meet its oil needs and therefore benchmarks local fuel rates to international oil prices.
Wednesday’s fall diesel rates The rates came after 33 days of status quo as oil companies adopted what is known as a moderation policy that asked consumers not to pass on excessive volatility in rates.
Incidentally, this status quo coincided with the Parliament session where opposition parties tried to corner the government on various issues, including hike in fuel prices.
Petrol and diesel prices were last hiked on July 17.
Earlier, between May 4 and July 17, the price of petrol was increased by Rs 11.44 per liter. During this, the price of diesel had increased by Rs 9.14.
Price hikes during this period pushed petrol prices above Rs 100 a liter in more than half of the country, while diesel crossed that level in at least three states.
According to the price notification by state-run oil companies, the price of diesel in Delhi has been reduced from Rs 89.67 per liter to Rs 89.47 per litre.
This reduction has come after a similar reduction on Wednesday.
Just like Wednesday petrol price Thursday was not modified. The price of petrol in Delhi stood at Rs 101.84 per liter.
The price cut comes after international oil prices fell to their lowest level since May, when the US Federal Reserve signaled it would begin reducing asset purchases within months, hurting commodities and Will raise the dollar.
While Brent fell $2.13 to $66.10 a barrel, West Texas Intermediate fell $2.39 to $63.07 a barrel.
India is about 85 per cent dependent on imports to meet its oil needs and therefore benchmarks local fuel rates to international oil prices.
Wednesday’s fall diesel rates The rates came after 33 days of status quo as oil companies adopted what is known as a moderation policy that asked consumers not to pass on excessive volatility in rates.
Incidentally, this status quo coincided with the Parliament session where opposition parties tried to corner the government on various issues, including hike in fuel prices.
Petrol and diesel prices were last hiked on July 17.
Earlier, between May 4 and July 17, the price of petrol was increased by Rs 11.44 per liter. During this, the price of diesel had increased by Rs 9.14.
Price hikes during this period pushed petrol prices above Rs 100 a liter in more than half of the country, while diesel crossed that level in at least three states.
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