Petrol, Diesel Prices On November 19: Fuel Prices Static For 15th Straight Day

On Friday, November 19th, petrol and diesel prices stayed steady for the 15th day in a row. On the eve of Diwali, the Centre announced a reduction in excise duties on fuels, resulting in a significant drop in petrol and diesel prices across the country.

The government slashed fuel prices by Rs 5 and diesel prices by Rs 10. Following this decision, some states, primarily those governed by the National Democratic Alliance (NDA) and its supporters, have reduced the value-added tax (VAT) on gasoline and diesel prices.

The price of petrol in Delhi fell to Rs 103.97 per litre on November 4. On November 19, the pricing remained unchanged. On the day, the price of diesel remained steady at Rs 86.67 per litre.

Fuel prices in Mumbai followed a similar pattern. The price of petrol remained steady at Rs 109.98 per litre. On May 29, Mumbai became the country's first metro where petrol was sold at more than Rs 100 per litre. The price of diesel remained unchanged at Rs 94.14 a litre.

In Kolkata, the rates of petrol and diesel remained steady at Rs 104.67 per litre and Rs 89.79 per litre, respectively.

A litre of petrol was sold in Chennai for the same price of Rs 101.40. The price of diesel remained steady at Rs 91.43 per litre as well.

Oil prices climbed slightly globally on Thursday after falling to six-week lows, as investors speculated on how much crude major economies might release from their strategic reserves, and how much this would relieve global crude demand pressures. Brent crude ended the day at $81.24 a barrel, up 96 cents, or 1.2 percent.