Fuel price cut: Petrol, Diesel get cheaper

Domestic fuel prices declined on Sunday with the cost of petrol falling 6 paise across the four metros, data on the Indian Oil Corp`s website showed.

In the national capital, petrol was priced at Rs 72.85 per litre, down from Rs 72.91 on Saturday. In Kolkata, Mumbai and Chennai, the fuel was sold for Rs 74.87, Rs 78.42 and Rs 75.61 respectively, against the previous level of Rs 74.93, Rs 78.48 and Rs 75.67 per litre.

Fuel prices in the country are based on a 15-day average of global crude prices and the rupee-US dollar exchange rate. Currently, the benchmark Brent crude oil is priced around $70 per barrel.

Price of diesel across the four metropolitan cities also declined in tandem with the petrol price movement. In Delhi, Kolkata and Mumbai, diesel price fell by 8 paise, while in Chennai, it declined 9 paise.

Diesel prices in Delhi, Kolkata, Mumbai and Chennai were Rs 66.11, Rs 67.85, Rs 69.19 and Rs 69.80 respectively on Sunday, against the previous levels of Rs 66.19, Rs 67.93, Rs 69.27 and Rs 69.89 per litre.