After soaring to the highest peaks in the past few months, petrol and diesel prices finally neutralised in the recent weeks and today have dropped down to the lowest in the past eight months. Ending the year on a cheerful note on December 25, petrol was priced at ₹ 69.79 per litre in Delhi dropping by a further 20 paise, the lowest it has been this year. In Mumbai, petrol today is priced at ₹ 75.41 per litre, while prices in Chennai and Kolkata stand at ₹ 72.41 and ₹ 71.89 per litre respectively.
The cost of diesel too has decreased along with petrol, and is now priced at ₹ 63.88 per litre in Delhi, while prices in Mumbai and Kolkata stand at ₹ 65.59 and ₹ 66.79 per litre. The drop in fuel prices has come courtesy of the recent decline in the global crude oil prices.
At present, fuel prices depend on the international fuel prices on a 15-day average and the value of the rupee. The previous months saw the crude oil prices go up as the rupee value was on a decline.
The rise in fuel prices also saw a major impact on passenger vehicle sales during the festive season this year, which did not meet the expectations. With the year coming to a close, the volumes are expected to see better stability, while moving into the new year on a positive note.