Petrol, diesel prices decline further! Check latest fuel prices Delhi, Mumbai, Kolkata and Chennai

In a major relief to consumers as fuel prices were cut sharply on Sunday. The fuel prices saw further decline as the price of petrol was cut by 17 paise and that of diesel by 21 paise. Here are details of petrol and diesel prices in Delhi, Mumbai, Kolkata and Chennai:-

Petrol prices (after the price cut)

- Petrol now costs Rs 71.71 per litre in Delhi
- Rs 77.40 per litre in Mumbai
- Rs 74.38 per litre in Kolkata
- Rs 74.51 per litre in Chennai 

Diesel prices (after the price cut)

- Diesel costs Rs 64.30 a litre in Delhi
- Rs 67.34 a litre in Mumbai
- Rs Rs 66.63 a litre in Kolkata
- Rs 67.86 per litre in Chennai

All details mentioned above according to Indian Oil Corporation website.

Crude oil prices

The prices were reduced after the international crude oil prices witnessed a downward trend due to slump in demand. The Brent also fell by $0.86 per barrel and was trading at $50.50 per barrel after coronavirus deaths and cases increased all over the world.

The retail prices of fuel are dependent on the international crude prices and the rupee-US dollar exchange rate as India imports almost 80 per cent of its crude requirements.

Domestic petrol and diesel prices are reviewed by oil marketing companies on a daily basis. Price revisions are implemented at the fuel stations with effect from 6 a.m.