The oil marketing companies (OMCs) marginally slashed fuel rates on Saturday across the four metro cities. While the price of petrol was lowered by 8 paise per litre in the four metros - Delhi, Mumbai, Kolkata and Chennai, the price of diesel was decreased by 5-6 paise per litre on Saturday compared with the previous day's rates, according to data from Indian Oil Corporation. Currently, the prices of petrol and diesel are reviewed by oil marketing companies such as state-run Indian Oil on a daily basis, and any revisions are implemented at fuel stations with effect from 6 am.
With effect from 6 am on Saturday, the price of petrol was revised to Rs 72.98 per litre in Delhi from Rs 73.06 per litre the previous day, data from Indian Oil Corporation showed. The price of diesel was lowered to Rs 65.95 per litre in the national capital, from Rs 66 per litre the previous day. In Mumbai, the price of petrol stood at Rs 78.60 per litre and diesel at Rs 69.12 per litre on Saturday, according to notifications from Indian Oil Corporation. The petrol and diesel rates were Rs 78.68 per litre and Rs 69.17 per litre in the city the previous day.
Here are the petrol and diesel rates in the four metros (Delhi, Kolkata, Mumbai and Chennai) today:
|(Source: Indian Oil Corporation)|
(The price of petrol and diesel in the four metros in rupees per litre)
The domestic fuel prices are broadly determined by international crude oil prices and the rupee-dollar exchange rate.
Globally, oil prices rose on Friday, registering the strongest weekly gains in more than a month as support from optimism over a US-China trade deal, falling US crude stocks and possible action from Organization of the Petroleum Exporting Countries or OPEC to extend output cuts outweighed broader economic concerns.