Prices of petrol and diesel were slashed across the four metro cities on Saturday by oil-marketing companies for the third straight day. Petrol is priced at Rs. 72.15 per litre in New Delhi, Rs. 74.21 per litre in Kolkata, Rs. 77.75 per litre in Mumbai and Rs. 74.90 per litre in Chennai, according to state-run Indian Oil Corporation's (IOC) website, iocl.com. Petrol prices were cut by 48 paise per litre in Delhi and Mumbai. In Kolkata and Chennai, the prices were slashed by 47 paise and 50 paise per litre, respectively.
Diesel rates stood at Rs. 66.28 per litre in New Delhi, Rs. 68.04 per litre in Kolkata, Rs. 69.45 per litre in Mumbai and Rs. 70.06 per litre in Chennai. Diesel prices were decreased by 19 paise per litre in Delhi and Kolkata. In Mumbai and Chennai, the prices were cut by 20 paise per litre.
State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices with effect from 6 am on a daily basis.
The domestic fuel prices are determined broadly by the global crude oil and rupee-dollar forex rates.
Globally, oil prices were mostly steady on Friday, ending the week slightly lower as trade tensions stoked by a US move to hike tariffs on Chinese goods overshadowed tightened global supplies and expectations of rising US refining demand, reported news agency Reuters.
Brent crude oil settled 23 cents, or 0.4 per cent, higher at $70.62 a barrel, but posted a weekly loss of 0.3 per cent.
US West Texas Intermediate (WTI) crude futures ended 4 cents lower at $61.66, with a weekly loss of 0.5 per cent.
(With agency inputs)
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