Diesel price in India today cut by 2 paisa
The tumble in diesel prices was in line with global crude oil prices as they dropped on the back of inexorable rise in US crude output.
As petrol prices were decided to be hiked by 2 paisa per litre in India on Tuesday, the state-owned oil companies also trimmed down diesel prices in various state capitals by 2 paisa per litre. The tumble in diesel prices was in line with global crude oil which dropped on the back of inexorable rise in US crude output.
Diesel price in New Delhi: In the national capital city, diesel price was cut by 2 paisa and was available at Rs 62.85 per litre compared to Rs 62.87 per litre of the previous day.
Diesel price in Kolkata: Similarly, 2 paisa cut was made here as diesel was available at Rs 65.54 per litre against Rs 65.56 per litre of the previous day.
Diesel price in Mumbai: Diesel here was valued at Rs 66.93 per litre, down by 2 paisa versus previous day price of Rs 66.95 per litre.
Diesel price in Chennai: Compared to the above mentioned three metro cities, diesel price in Chennai saw a cut of 2 paisa, and was available at Rs 66.27 per litre from Rs 66.29 per litre of previous day.
Diesel prices in other state capitals: Other cities also saw reduction in their diesel prices. The product in cities like Bangalore was available at Rs 63.91 per litre, Bhopal at Rs 66.39 per litre, Bhubaneswar at Rs 67.42 per litre, Chandigarh at Rs 61.01 per litre, Dehradun at Rs 63.49 per litre, Gandhinagar at Rs 67.75 per litre, Hyderabad at Rs 68.28 per litre, Jaipur at Rs 67.32 per litre, Lucknow at Rs 63.33 per litre, Patna at Rs 67.43 per litre, Raipur at Rs 67.90 per litre and Srinagar at Rs 66.18 per litre.
A Reuters report stated that, US crude oil production soared past 10 million barrels per day (bpd) in late 2017, overtaking output by top exporter Saudi Arabia.
As the rise in US crude production weighed on markets, ANZ bank report said, "Oil prices fell on the back of concerns that surging US production ... could push inventories in the US higher."
US West Texas Intermediate (WTI) crude futures were at $61.25 a barrel at 0414 GMT, down 11 cents, or 0.2 percent, from their previous close. Brent crude futures were at $64.85 per barrel, down 10 cents, or 0.2 percent.