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Relief for customers as petrol, diesel prices drop for second day in a row

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Customers across major metros in India saw some respite as petrol and diesel prices fell by 10 paise and five paise, respectively, on January 13. This was the second consecutive day when fuel prices saw a drop on the back of slight easing of tensions between the United States and Iran.

Prices of petrol and diesel stood at Rs 75.80 and Rs 69.06 a litre, respectively, in Delhi. In Mumbai, the same stood at Rs 81.39 and Rs 72.42, respectively.

In Kolkata and Chennai, petrol prices fell to Rs 78.39 and Rs 78.76 a litre, respectively. Diesel prices in the two cities reduced to Rs 71.43 and Rs 72.98 a litre, respectively.

Crude oil prices saw a spike earlier this month as a result of rising tension in the Middle East, heightened geopolitical uncertainties and the recent decision to reduce oil production made by OPEC nations and their allies.

However, Iran on January 12 signalled that it favours de-escalation, following nearly 10 days of tension between the countries, which came after an Iranian military general was killed in an airstrike by the US.