Oil-marketing companies increased the prices of diesel, whereas petrol prices were unchanged across the four metro cities on Monday. Diesel rates stood at Rs. 66.66 per litre in New Delhi, Rs. 68.40 per litre in Kolkata, Rs. 69.77 per litre in Mumbai and Rs. 70.39 per litre in Chennai, according to state-run Indian Oil Corporation's (IOC) website, iocl.com. Diesel rates were increased by 5 paise per litre across metros. While, petrol is priced at Rs. 73.08 per litre in New Delhi, Rs. 75.10 per litre in Kolkata, Rs 78.65 per litre in Mumbai and Rs. 75.85 per litre in Chennai.
State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices with effect from 6 am on a daily basis.
As per the daily dynamic pricing regime, domestic fuel prices depend on international fuel prices on a 15-day average, besides the value of the rupee. This is because a large proportion of country's requirement is met through imports.
Globally, oil prices fell on Monday, extending a slump from Friday that ended weeks of rallying, after President Donald Trump demanded that producer club OPEC raise output to soften the impact of US sanctions against Iran, reported news agency Reuters.
Brent crude futures were at $71.66 per barrel in intraday trade, down 49 cents, or 0.7 per cent, from their last close.
US West Texas Intermediate (WTI) crude futures were at $62.87 per barrel, down 43 cents, or 0.7 per cent, from their previous settlement. Both benchmarks fell around 3 per cent in the previous session.
(With agency inputs)
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