Diesel fall continues as petrol holds firm

Diesel is getting cheaper by the day in the country on the back of subdued product prices and almost steady crude oil prices globally.

On Tuesday, pump price of the auto fuel fell by 8 paisa per litre across all major metros.

In the national capital, diesel is now priced Rs 70.63 per litre, 8 paise down from Rs 70.72 a litre on Monday.

Similarly, prices of the fuel also fell in the other metros.

In Mumbai, Chennai and Kolkata, the fuel was sold at Rs 77.04, Rs 76.10 and Rs 74.15, respectively on Tuesday, compared to the previous levels of Rs Rs 77.12, Rs 76.18 and Rs 74.23 per litre.

Diesel prices have now fallen for five consecutive days. In earlier months as well, diesel had maintained a consistent fall.

Oil marketing companies, however, kept petrol prices unchanged for the six consecutive days.

In Delhi, Mumbai, Chennai and Kolkata, petrol was priced at Rs 81.06, Rs 87.74, Rs 84.14 and Rs 82.59 per litre, respectively.

The recent fuel price fall is on the back of expectation of slowing demand for oil globally as a second wave of coronavirus spike threatens further derail economic activity.

Brent crude price is also subdued around $42 a barrel.

For domestic auto fuel consumers, the price fall has been a bonanza amidst the current tough economic conditions.

With the price cut on Tuesday, diesel has now become cheaper by Rs 2.93 per litre in Delhi this month..