Retail fuel prices were slashed on March 30 for the first time in five days following a decline in international fuel prices. The price of petrol was cut by 22 paise and that of diesel by 22 paise in New Delhi. Prices were earlier slashed on March 25 after remaining unchanged for 24 days.
After the latest cut, the petrol price in the national capital stood at Rs 90.56 per litre. The price of diesel was at Rs 80.87 per litre, according to the Indian Oil Corporation (IOCL). While the price of petrol in Mumbai was Rs 96.98 per litre, the diesel price in the financial hub was Rs 87.96 per litre.
The fuel price cuts this month are the first in 2021 and largely due to the drop in international oil prices to their lowest since early February as the second wave of COVID-19 infections clouded prospects for a speedy recovery in consumption.
Meanwhile, the petrol price in Chennai stood at Rs 92.58 and that of diesel price was Rs 85.88 per litre. The price of petrol and diesel in Kolkata were reduced to Rs 90.77 per litre and Rs 83.75 per litre, respectively.