Fuel and diesel prices have plummeted as global oil prices remain volatile. Check the details

Oil prices have fallen sharply in the wake of global oil prices. Check out the latest gasoline and diesel prices in big cities.

World crude oil prices have fluctuated, and oil prices have fallen sharply. (Photo Reuters)

State-run oil companies (OMCs) cut domestic oil prices on Wednesday as global crude oil prices plummeted.

Petroleum and diesel prices nationwide have dropped by an estimated 15 pesos, more than a week after the cuts. Today’s decline indicates that domestic crude oil prices will continue to fall unless significant global oil prices rise.

After today’s review, it costs 101.34 rubles per liter in New Delhi and 107.39 rubles in Mumbai. In Kolkata it reached 101.72 rubles per liter and in Cheyenne more than 99 rubles.

Read | Take a look at yesterday’s fuel prices

Meanwhile, diesel prices in Mumbai have dropped to 88.72 reals and 96.33 rubles per liter. Diesel will sell at 91.84 restaurants in Kolkata and 93.38 rubles per liter in Chennai.

While a 15-point reduction in petroleum and diesel may not be a relief, OMCs are willing to reduce rates to provide relief to citizens. A few days ago, the oil minister said that if world crude oil prices weakened, gasoline and diesel prices would soon fall.

There is currently a weakening of crude oil prices, but they have not decreased significantly.

Also read | High fuel prices that ignite inflation when companies face an input cost burden: In-Ra analysis

Decreasing oil prices are expected to accelerate economic growth, which in turn can lead to lower prices for key goods and services.

But for greater relief for citizens, prices must go down further.

Oil, diesel prices in major Indian cities

City

PER LITER

Diesel (by Lita)

Delhi

101.34 rubles

88.77 rubles

Mumbai

107.39 rubles

96.33 rubles

Cheney

99.08 rubles

93.38 rubles

Kolkata

101.72 rubles

91.84 rubles

Bengalru

104.84 rubles

94.19 rubles

Hyderbad

105.40 rubles

96.84 rubles

Patana

104.13 rubles

94.88 rubles

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