Petrol prices continued a downward trend for the fifth consecutive day on Tuesday, while diesel prices remained unchanged across the four metro cities. The price of petrol was lowered by 5 paise per litre in the four metros - Delhi, Mumbai, Kolkata and Chennai on Tuesday, 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 Tuesday, the price of petrol was revised to Rs 72.60 per litre in Delhi from Rs 72.65 per litre the previous day, data from Indian Oil Corporation showed. The price of diesel was kept unchanged at Rs 65.75 per litre in the national capital. In Mumbai, the price of petrol stood at Rs 78.28 per litre and diesel at Rs 68.96 per litre on Tuesday, according to notifications from Indian Oil Corporation. The petrol and diesel rates were Rs 78.33 per litre and Rs 68.96 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 the rupee-dollar exchange rate and international crude oil prices.
In forex markets, the rupee inched up 4 paise to 70.73 against the dollar in early trade on Tuesday, following increased selling of the American currency by exporters and banks. However, weak domestic equity market and rising crude prices capped gains for the rupee, according to analysts.
Globally, oil prices steadied on Tuesday as investors kept an eye on US inventory data due later, following two days of gains on positive economic data and hopes for a Washington-Beijing trade deal.