Govt cuts fuel prices for the first time in 2021 ahead of Assembly polls; check updated rates here – Business News , Firstpost

Petrol worth on Wednesday was minimize by 18 paise per litre and diesel by 17 paise a litre as worldwide oil prices tumbled to the lowest since early February

Representational picture. ANI

The Centre on Wednesday minimize fuel prices in the nation for the first time in over a yr, in the run-as much as the meeting elections in West Bengal, Assam, Kerala, Tamil Nadu, and Puducherry.

The fuel prices, which final month hit file highs together with crossing Rs 100 mark in some locations in Rajasthan, Maharasthra and Madhya Pradesh, had been on freeze since February-end when elections to 5 states had been introduced.

In the newest transfer, petrol worth was minimize by 18 paise per litre and diesel by 17 paise a litre as worldwide oil prices tumbled to the lowest since early February.

Petrol worth was minimize to Rs 90.99 a litre in Delhi from Rs 91.17 per litre, in accordance with a worth notification of state-owned fuel retailers. Diesel now comes for Rs 81.30 a litre in the nationwide capital, down from Rs 81.47 beforehand.

Rates have been lowered throughout the nation and differ from state to state relying on the native incidence of taxation (VAT).

In Mumbai, a litre of petrol now prices Rs 97.40 whereas the identical amount of diesel might be purchased at Rs 88.42. One litre of petrol in Kolkata prices Rs 91.18 and the diesel worth is Rs 84.18 per litre.

The price of one litre of petrol in Chennai is Rs 92.95 whereas the identical amount of diesel prices Rs 86.29 on 24 March. Till 23 March, the fuel prices in Chennai had been Rs 93.11 and Rs 86.45 for one litre every of petrol and diesel, respectively.

Petrol worth in the metropolis of Sri Ganganagar in Rajasthan continues to be over Rs 100. While diesel prices Rs 93.60.

This is the first discount in fuel prices in over a yr as the prices had been final lowered on 16 March, 2020.  Previously, regardless of bouts of price freeze, prices had gone up by a file Rs 21.58 per litre on petrol in the final one yr. Diesel prices had elevated by Rs 19.18 a litre.

The price discount adopted worldwide oil prices tumbling to the lowest since early February as the second wave of COVID-19 an infection clouded the prospects for a speedy restoration in consumption.

West Texas Intermediate for May supply was all the way down to $57.76 in New York on Tuesday, the lowest shut since 5 February whereas Brent for the identical month misplaced $3.83 to $60.79 a barrel, the lowest since

With inputs from PTI

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