Due to the fall in the prices of crude oil worldwide, Petrol- Diesel price was also seen across the country on Sunday. Petrol prices fell for the second consecutive day in major metros of the country including Delhi-Mumbai. Petrol rate was reduced by 15-18 paise in various cities. The price of diesel fell by 20-25 paise. Petrol price in Delhi came down to Rs 71.71 per liter on Sunday. This is the cheapest rate in 6 months. The price of diesel in the city came down to Rs 64.3 per liter. The price of diesel in the city has reached an 8-month low.
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Petrol Rate in Mumbai Rs 77.4 In Kolkata, the price of petrol fell to Rs 74.38 and the rate of diesel to Rs 66.63 per liter. The price of petrol in Mumbai was Rs 77.4 and Rs 67.34 per liter. In the southern state of Chennai, the price of petrol was Rs 74.51 per liter and Diesel rate was Rs 67.86 per liter.
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The price of petrol and diesel depends on these factories. Petrol and diesel prices in India depend on international crude oil prices, rupee-dollar exchange rates, local taxes (excise tax and VAT), transportation costs, dealer commissions and margins of oil companies. India imports three-quarters of its oil needs. Oil marketing companies in the country change the prices of petrol and diesel on a daily basis and they become effective at 6 in the morning.
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Coronavirus has an effect Crude oil prices fell in the global market amid fears of further reduction in demand as coronavirus spread to countries outside China. Thousands of people are said to be infected due to this infectious disease in many countries.