Petrol, diesel rates cut for 5th consecutive day

Petrol, diesel rates cut for 5th consecutive day
In Mumbai, the cost of petrol has come down to Rs 79.40 per litre while diesel price has declined to Rs 70.14 per litre as of Monday, October 7 (Representational Image)

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

Compared to Sunday, the price of petrol fell by 13 paise per litre in Delhi, Kolkata, Mumbai, and Chennai. Similarly, diesel rates also reduced by 12 paise per litre in Delhi, Kolkata, Mumbai, and Chennai.

As per the Indian Oil website, the price of petrol in Delhi, Kolkata, Mumbai, and Chennai stood at Rs 73.76/litre, Rs 76.40/litre, Rs 79.40/litre, and Rs 76.61/litre, respectively.

The diesel rates, meanwhile, fell to Rs 66.09/litre, Rs 69.27/litre, Rs 70.14/litre, and Rs 71.68/litre, respectively.

Following the back to back decline in prices over the last five days, both petrol and diesel rates have come down by around 40-50 paise in the last five days.

The reduction 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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