Fuel Prices Drop: Petrol down by 28 paise in Mumbai, diesel by 14 paise in two days

Fuel Prices Drop: Petrol down by 28 paise in Mumbai, diesel by 14 paise in two days
In Mumbai, the cost of petrol has come down to Rs 79.93 per litre while diesel price has declined to Rs 70.61 per litre as of Friday, October 4 (Representational Image)

The price of petrol and diesel declined for the second consecutive day in Mumbai and other major cities on Friday, providing some much-needed relief to motorists and transporters ahead of the festive season.

Compared to Thursday, the price of petrol fell by 18 paise per litre in Delhi, Kolkata, and Mumbai while Chennai saw a dip of 19 paise. Similarly, diesel rates also reduced by 8 paise in Delhi, Kolkata, and Mumbai and in Chennai the reduction was by 9 paise.

As per the Indian Oil website, the price of petrol in Delhi, Kolkata, Mumbai, and Chennai stood at Rs 74.33/litre, Rs 76.96/litre, Rs 79.93/litre, and Rs 77.21/litre, respectively.

The diesel rates, meanwhile, fell to Rs 67.35/litre, Rs 69.71/litre, Rs 70.61/litre, and Rs 71.15/litre, respectively.

Following the back to back reduction in price over the last two days, the cost of petrol has come down by 28 paise in Delhi and Mumbai, while diesel has dropped by 14 paise.

The decline in rates is due to the fall in Brent crude oil price, which had soared following a drone attack on a Saudi oil facility on September 14. The attack had disabled around 5 percent of the global supply.

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