Prices of petrol and diesel were slashed by up to 25 paise across Indian cities on Friday. This is the second straight slash after petrol and diesel witnessed prices coming down by 21 paise and 11 paise/litre on Thursday, thirteen days after the central govt announced Rs 2.50 price reduction on Oct 4.
On Saturday, petrol prices per litre were revised to Rs 81.99 in Delhi, a 39 paise drop, whereas rates in Mumbai were reduced by 38 paise to Rs 87.48 per litre.
In Chennai, petrol was priced at Rs 85.22 per litre after a 41 paise drop, while in In Kolkata, it was figured at Rs 83.83 per litre, 38 paise lower.
Price of diesel was slashed by 12 paise in the national capital to Rs 75.36 per litre, while in Mumabi diesel price is at Rs 79 per litre, 13 paise lower than Friday. It was changed to Rs.84.21 in Kolkata and in Chennai Rs 85.63.
In the international markets, the oil prices witnessed its second straight weekly drop on account of swelling US inventories and concerns that the trade wars would reduce economic activities.
Crude oil prices internationally trade near their lowest mark in 2 months on Friday. West Texas Intermediate (WTI) crude is down 3.5% in one week, while Brent crude has fallen 1.1%. US WTI for October delivery was up 0.4%, at USD 68.92 a barrel.