Petrol Prices in India Remain Stable, Diesel Prices Drop Again on February 28; Check Fuel Rates in Mumbai, Delhi and Other Metro Cities

New Delhi, February 28: Fuel rates across India witnessed a downward trend on Friday with the state-run oil marketing companies reducing the pump price of diesel by 5-6 paise. However, the price of petrol remain unchanged on  February 28, 2020. According to the official website of Indian Oil Corporation (IOC), the petrol price in Delhi was Rs 71.96 per litre while in Mumbai, the retail petrol pump price was Rs 77.62 per litre. In Kolkata, the petrol price was Rs 74.60 per litre while in Chennai, petrol was sold at Rs 74.77 per litre on Friday. Check Fuel Rates in Metro Cities in India.

Meanwhile, the pump price of diesel in Delhi was Rs 64.65 per litre, in Mumbai, diesel was sold at Rs 67.75 per litre. In Chennai, the price of diesel was Rs 68.28 per litre while in Kolkata it was Rs 66.97 per litre. Reports inform that the petrol price is now at a 5-month low while diesel is at a 7-month low. The slump in the fuel rates can be  attributed to the outbreak of Coronavirus (COVID-19) in China. COVID-19 was detected in Wuhan, China's Hubei Province and has since spread to more than 20 other countries.

Check Petrol & Diesel Price in Metro Cities on February 28, 2020:

In India, the petrol and diesel prices in India dependent on the international crude prices and the rupee-US dollar exchange rate. India imports almost 80 per cent of its crude requirements. Since June 2017, fuel prices in India are revised daily at 6 am. Before this prices were revised every fortnight. The domestic petrol and diesel prices are reviewed by oil marketing companies on a daily basis.

(The above story first appeared on LatestLY on Feb 28, 2020 12:34 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).