The price of petrol in Delhi slipped to an over eight-month low following the colossal crash in the global crude oil prices on Monday.
The price of petrol in the national capital was at Rs 70.29 per litre, unchanged from Tuesday. However, the price is at its lowest level since June 29, 2019, according to the data available with the country’s largest oil marketing company Indian Oil Corporation (IOC).
The price of diesel was at 63.01 per litre in Delhi on Wednesday, unchanged from the previous day, the IOC data showed.
Petrol prices had slipped below Rs 71-mark per litre on Monday as the international crude oil prices crashed by close to 31 per cent, the second-largest margin on record, after the disintegration of the OPEC+ alliance triggered an all-out price war between Saudi Arabia and Russia.
Among the other key metropolitan cities, petrol in Mumbai is retailing at Rs 75.99 per litre while diesel is selling at Rs 65.97 per litre. In Chennai, a litre of petrol costs Rs 73.02 per litre whereas diesel is priced at Rs 66.48 per litre. In Kolkata, petrol is selling for Rs 72.98 a litre while diesel is at Rs 65.34.
Petrol prices across India have been steadily declining since February 27, 2020, owing to a fall in global crude oil prices following a rise in concerns over coronavirus outbreak beyond China and its impact in the global economy.
Following the fall in crude oil prices, the Congress has hit out at the BJP-led central government and demanded that the rates of petrol, diesel and liquefied petroleum gas (LPG) be reduced by at least 35-40 per cent.
Claiming that crude oil prices were down to November 2004 levels, Congress’s chief spokesperson Randeep Singh Surjewala demanded that petrol and diesel should be brought under the GST.
In a press statement, Surjewala also said that the hike in excise duty/customs duty effected since May 2014 on petroleum products by Narendra Modi-led central government should be withdrawn immediately until it is brought under the GST regime.
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