Mumbai, March 11: Petrol prices on Wednesday reduced. The rate of petrol in Delhi was at 70.29, reduced by Rs 2.69. Diesel price, on the other hand, was at Rs 63.01, reduced by Rs 2.33. In Mumbai, the petrol price was at Rs 75.99 and diesel, on the other hand, was at 65.97. The diesel rate in Kolkata was at Rs 65.34 and a litre of petrol would cost Rs 72.98.

The petrol rate in Chennai was at  73.02  and on the other hand, the diesel price for Wednesday stood at Rs 66.48.  As crude oil rates dropped to their lowest since February 2016 due a price war between Saudi Arabia and Russia, petrol and diesel prices were slashed by 30 paise a litre and 25 paise a litre, respectively on Tuesday. Oil Price War: Saudi Aramco to Boost Crude Oil Supply to 1.23 Million Barrels Per Day in April, Escalates Tussle With Russia.

Check ANI update:

According to a Live Mint report, the fuel rates have fallen by around Rs 5 a litre so far in 2020. The petrol and the diesel rates are not at an 8-9 month low. On Wednesday, crude oil prices increased for a second day today, lifted by hopes that US producers will cut output, but the gains were limited in comparison to Monday's crash after Saudi Arabia and Russia triggered a price war.

(With additional inputs from agencies)

(The above story first appeared on LatestLY on Mar 11, 2020 08:35 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).