Petrol, Diesel Prices Steady Even After Crude Falls To Below $30/bl Levels

Even after the crude prices sank to levels below $30 per barrel, levels last registered in January 2016, fuel prices in India were left unchanged on March 17, 2020. Due to fears of bleak demand for the commodity amid coronavirus fallout and a price war between Russia and Saudi Arabia, crude oil prices are on a losing streak since the last week of February.

Petrol, Diesel Prices Steady Even After Crude Falls To Below $30/bl Levels

In overnight trade, crude tumbled to levels as low as $29.52 per barrel, declining as much as 11%. Brent crude was up by 1.5% to $30.51 per barrel, after it hit a high of $31.25 per barrel.

In the national capital, petrol is priced at Rs. 69.59 per litre while diesel is available for Rs. 62.29 per litre. In Mumbai, petrol is available at Rs. 75.30 per litre and diesel can be purchased at Rs. 65.21 per litre.

The price of auto fuel including both petrol and diesel has been kept steady despite the hike in excise duty by Rs. 3 on both petrol and diesel.

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