Petrol prices dip below 2018 levels

New Delhi: Petrol prices fell nearly 20 paise to Rs 68.65 a litre in Delhi on Tuesday to touch the lowest levels in over a year across the four metros.

Petrol price in the national capital was Rs 68.84 on Monday — lowest for 2018, data on the Indian Oil Corp’s website showed. The year saw petrol price rise to a high of Rs 82.83 (October 16) in Delhi.

In Kolkata, Mumbai and Chennai, the fuel cost Rs 70.78, Rs 74.30 and Rs 71.22, respectively, down from Monday’s Rs 70.96, Rs 74.47 and Rs 71.41 per litre.

The continuous decline in prices for the last couple of weeks comes following the recent decline in crude oil prices. The trend, however, may change in the months ahead as the production-cut decision by OPEC and non-OPEC countries takes effect from Tuesday.

Diesel prices also recorded the sixth consecutive decline on Tuesday.

In Delhi, Kolkata, Mumbai and Chennai, it sold at Rs 62.66, Rs 64.42, Rs 65.56 and Rs 66.14 a litre, respectively, lower from Monday’s levels of Rs 62.86, Rs 64.61, Rs 65.76 and Rs 66.35 per litre.