INSUBCONTINENT EXCLUSIVE:
The domestic fuel prices are determined broadly by the global crude oil and rupee-dollar forex ratesPetrol and diesel prices were cut by oil
marketing companies on Sunday, marking a fourth straight day of reduction in the fuel rates
With effect from 6 am on Sunday, the price of petrol was at Rs
70.56 per litre in New Delhi, Rs
72.81 per litre in Kolkata, Rs
76.25 per litre in Mumbai and Rs
73.30 per litre in Chennai, according to Indian Oil Corporation's (IOC) website, iocl.com
Petrol prices were decreased by 16 paise in New Delhi, Kolkata and Mumbai compared to the previous day's rates
In Chennai, the rates were slashed by 17 paise per litre.On Sunday, the rate of diesel was at Rs
64.50 per litre in New Delhi, Rs
66.42 per litre in Kolkata, Rs
67.63 per litre in Mumbai and Rs
68.23 per litre in Chennai
In Delhi and Kolkata, the prices were slashed by 15 paise per litre compared to the previous day
In Mumbai and Chennai, the rates were cut by 16 paise per litre.(Petrol prices were decreased by 16 paise in New Delhi, Kolkata and
revisions are implemented at the fuel stations with effect from 6 am
The domestic fuel prices are determined broadly by the global crude oil and rupee-dollar forex rates.Globally, oil prices rose nearly 3 per
cent on Friday, climbing further from five-month lows hit this week, after Saudi Arabia said OPEC was close to agreeing to extend an output
production cut beyond June and as Wall Street rallied, reported news agency Reuters.Brent crude futures gained $1.62, or 2.6 per cent, to
settle at $63.29 a barrel
US West Texas Intermediate (WTI) crude ended at $53.99 a barrel, up $1.40, or 2.7 per cent.Brent posted its third weekly decline, dropping
nearly 2 per cent, while WTI gained about 1 per cent for the week
On Wednesday both benchmarks hit their lowest since January.(With agency inputs)
