Petrol Prices Falls Below Rs 70, Hits The Lowest Of 2018

| December 25 , 2018 , 18:10 IST

Christmas has brought smiles to the Indian faces as petrol prices hit the lowest in 2018. Petrol prices were reduced by seven paise per litre in the four metro cities on Tuesday morning.

On Monday, for the first time in 2018, petrol price fell below the Rs 70 mark and was priced at Rs 69.86 a litre.

This morning (December 25), petrol was priced at Rs 69.79 a litre in Delhi as it was again slashed by 7 paise.

In Mumbai, Chennai and Kolkata, today (December 25) petrol is being sold at Rs 75.41, Rs 72.41 and Rs 71.89, respectively.

In Mumbai and Kolkata, petrol prices already hit the lowest level of 2018 earlier in the month and on Monday, they declined further to Rs 75.48 and Rs 71.96, respectively.

Cost of diesel also decreased in tandem with petrol. In Delhi, Kolkata, Mumbai and Chennai, diesel was priced at Rs 63.88, Rs 65.59, Rs 66.79 and Rs 67.38 respectively, on Tuesday.

The decline in domestic fuel prices comes due to the recent fall in global crude oil prices.

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Global crude oil prices plunged more than 6 per cent to the lowest level in more than a year on Monday.

Benchmark Brent hit its lowest level since 2017 during the session, putting it on track for a loss of about 40 per cent in the October-December quarter.

Domestic stock markets closed at a two-week low on Monday, as political uncertainties in the US and concerns on global economic growth dampened sentiment.

The rupee closed marginally higher against the dollar at 70.14 on Monday. The rupee is down 9.8 per cent against the dollar so far this year.