Petrol cheaper by 50 paise, diesel by 46 paise from midnight

As of midnight December 16, oil marketing companies have reduced the retail selling price of petrol by 50 paise a litre and that of diesel by 46 paise a litre. 

The decrease in retail selling prices will include state levies. As a result, petrol will now cost Rs 59.98 per litre in New Delhi, Rs 65.53 in Kolkata, Rs 67.04 in Mumbai and Rs 60.28 in Chennai. Meanwhile, Diesel will cost Rs Rs 46.09 a litre in New Delhi, Rs 49.70 in Kolkata, Rs 53.28 in Mumbai and Rs 47.28.

This marginal reduction in fuel prices comes even as global crude oil prices have hit a record low. The Organisation of Petroleum Exporting Countries (OPEC), which is a supplier of over 40 percent of the world’s crude oil, has reported prices of US$ 33 a barrel, the lowest since 2009.