Tuesday, December 1, 2020
Home News Reports Petrol prices decline by an average of almost Rs 10, Diesel by Rs 6.5...

Petrol prices decline by an average of almost Rs 10, Diesel by Rs 6.5 in the last 8 weeks

It is also anticipated by think tanks across the world that the prices of Brent crude might go down further, resulting in an additional decline in the fuel prices.

Ever since the astronomical rise in prices of Brent crude in the international market and the weakening rupee against the dollar, the fuel prices of Petrol and Diesel in the Indian markets were at an all-time high.

However, now the country is witnessing a steady decline in petrol and diesel rates in the last several weeks. To understand the quantum of reduction in prices of fuel, We have analysed the reduction in rates of fuel in four metro cities: Mumbai, New Delhi, Bengaluru and Kolkata.

Mumbai

From the high of Rs. 91.39 on October 4, 2018, the rates have come down 12.3% to Rs. 80.12/litre on November 23, 2018. In the month of November alone, the petrol rates have come down approximately 5.6% in the city of Mumbai.

Similarly, from the high of Rs. 80.15/litre for diesel in Mumbai, the price has drastically come down to Rs. 72.65/litre, a reduction of 9.3% in a matter of a few weeks.

New Delhi

In the last 20 days, there has been a marked decrease in the prices of fuel in the Nation’s capital New Delhi. Petrol which was available at Rs. 84.06 in early October is now available at Rs. 74.58, a reduction of staggering 11.27%.

Whereas the current price of Diesel in New Delhi is Rs. 69.38/litre. The decline is about 8.3% from the high of Rs. 75.74/litre around mid-October.

Bengaluru

Petrol was soaring at Rs. 84.72/litre on October 4 in the Southern metropolis of Bengaluru. Since then, there has been a fall in the prices and it is currently almost 11% cheaper from its high at Rs. 75.17/litre.

The diesel was at a high of Rs. 75.89/litre last month. It has firmly come down from mid-October and is at Rs. 69.74/litre, down about 8.1%.

Kolkata

Petrol prices saw a steep fall of about 10.3% to Rs. 76.94/litre this month from its high of Rs. 85.8/litre in the last month in the city of Kolkata.

Diesel prices in Kolkata were at unprecedented levels around 18th of October, 2018 at around Rs. 77.54/litre. Since then, there has been a downward trend in the prices of Diesel in Kolkata. The current price of Diesel in Kolkata is about Rs. 71.55/litre and is 7.7% down from its high.

If the price decline in the 4 largest metropolitan cities are averaged out, Petrol prices have declined by almost Rs 10, Diesel by Rs 6.5 in the last 8 weeks.

It is also anticipated by think tanks across the world that the prices of Brent crude might go down further, resulting in an additional decline in the fuel prices.

But as the prices of fuel have been firmly going down, in the last couple of weeks, in particular, the praise around the declining fuel prices haven’t matched the decibels the soaring prices of fuel did. In fact, the brickbats and the praise should not accrue to the Modi government since the prices of Petrol would follow the international markets. However, opposition’s selectivity reaks of political opportunism.

Note: The data collected for the above representation is as of November 26, 2018, and sourced from Mypetrolprice.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

Jinit Jain
Engineer. Writer. Learner.

Related Articles

Trending now

After Barkha Dutt failed to whitewash Khalistan supporter Deep Sidhu, Shekhar Gupta’s The Print picks up the pieces

Actor Deep Sidhu continues to refuse to call Jarnail Singh Bhindranwale a terrorist while he keeps participating in farmer protests

Father of Shehla Rashid files complaint against her saying she’s threatening him with life, accuses her of being involved in ‘notorious activities’

The father of the career-protestor-turned-politician Shehla Rashid claims the latter being involved in 'notorious activities'

Farmer group bats for ‘middlemen’, hails them as ‘service providers’ while scare-mongering about reforms in agriculture sector

Protesting farmers say that they are happy to pay commission to middlemen, claims new farm laws are not needed for their protection

What they never told you when they said India was the worst performing emerging economy

India’s economy contracted by 23.9%. For comparison, Brazil’s GDP contracted by 11.9% and Russia’s GDP by 8%. So, did they really do better than India?

Assam closes down temporary Covid-19 care centres, gears up to reopen elementary schools as pandemic gets under control

Assam has been witnessing reduced cases of Covid-19 with recovery rate of 98 per cent and the death rate of 0.46 per cent

Shiv Sena to organise Azaan recitation competition, party leader calls it as important as ‘Maha Aarti’

Shiv Sena is to bear the cost of the event and will also reward the contest winners.

Recently Popular

Wife of late Wajid Khan writes on her sufferings in an inter-faith marriage, says anti-conversion law should be nationalised

Wife of late music composer Wajid Khan wrote how her husband and his family had been forcing her to convert to Islam after their marriage

Actor Deep Sandhu disappoints Barkha Dutt after she provides platform to ‘distance himself’ from OpIndia report that he supports Khalistan

Barkha Dutt lamented after actor Deep Sidhu refused to condemn Jarnail Singh Bhindranwale and to call him terrorist on her YouTube channel

SFJ ads appear on YouTube offering $10m support for farmers, in return, wants Sikhs to join ‘Khalistan movement’: Details

Amid ongoing farmers’ protests in Punjab, Haryana, and Delhi, it is evident that Khalistani supporters have hijacked the protests and now, they are running ads on YouTube

Shiv Sena to organise Azaan recitation competition, party leader calls it as important as ‘Maha Aarti’

Shiv Sena is to bear the cost of the event and will also reward the contest winners.

Indian man proposes to his Australian girlfriend during Ind vs Aus cricket match, here is what happened next

While India's performance has been below par, netizens found happiness in the unusual proposal that became the highlight of the match.

‘Will not say Jai Hind, will teach lesson to Modi like we taught Indira’: Khalistani protester in presence of AAP MLA Amanatullah Khan

Sikh protester threatens to teach Modi a lesson in the save way they taught Indira Gandhi in the presence of AAP MLA Amanatullah Khan

After Barkha Dutt failed to whitewash Khalistan supporter Deep Sidhu, Shekhar Gupta’s The Print picks up the pieces

Actor Deep Sidhu continues to refuse to call Jarnail Singh Bhindranwale a terrorist while he keeps participating in farmer protests

Pilibhit: 12-year-old boy escapes from madrassa alleging he was chained and tortured by his teacher

A 12-year-old boy was beaten by head of the Al-Jamiatul Razvia Madinatul Islam madrassa in Pilibhit after he tried to go home

Father of Shehla Rashid files complaint against her saying she’s threatening him with life, accuses her of being involved in ‘notorious activities’

The father of the career-protestor-turned-politician Shehla Rashid claims the latter being involved in 'notorious activities'

Private procurements from Adnai group helped eliminate middlemen and generate more income, reveals apple farmers from Himachal Pradesh

Apple Orchard manager Manjeet Singh Dhillon informed that Adani group had been purchasing apples from farmers since 2006.

Eight months after cutting water supply of migrants to drive them away in middle of pandemic, Arvind Kejriwal govt offers free water to protesting...

Delhi Jal Board VP and AAP MLA Raghav Chadha himself went to Burari to ensure water tankers are available for protesting farmers

‘Shaheen Bagh returns’: Netizens react as protesting ‘farmers’ served biryani at Ghazipur in New Delhi

Biryani at the ongoing farmers' protest brings back memories of the 'organic' Shaheen Bagh protests

Farmer group bats for ‘middlemen’, hails them as ‘service providers’ while scare-mongering about reforms in agriculture sector

Protesting farmers say that they are happy to pay commission to middlemen, claims new farm laws are not needed for their protection

Protests against farm laws are based on rumours and misinformation: PM Modi punctures holes in the propaganda surrounding farm laws

PM Modi noted, "The government is consistently addressing the fears and queries of farmers who are anxious about the government's decision."

Not ‘just a municipal election’, a defeat of TRS in the Hyderabad Municipal Elections will alter the political discourse of the state

Not just top BJP leaders, top TRS leaders are also campaigning hard for the GHMC elections, making it more than just a municipal election

Former PMO official from UPA era gets excited at ‘New Zealand MP supporting farmers,’ except that no MP from New Zealand supported

The former advisor to Manmohan Singh shared a Tweet by Canadian politician to claim that a 'New Zealand' MP is supporting the Punjab farmers' protest

Connect with us

245,563FansLike
491,429FollowersFollow
20,200SubscribersSubscribe