INSUBCONTINENT EXCLUSIVE:
In the national capital, petrol was sold at Rs 81.34 per litre on Tuesday.Fuel prices were slashed for a sixth straight day on Tuesday
across the four metro cities
The oil marketing companies (OMCs) cut rates of petrol and diesel by 10 paise per litre and 7 paise per litre, respectively, in Delhi
In the national capital, petrol was sold at Rs 81.34 per litre on Tuesday, according to Indian Oil Corporation (IOC)
on the other hand, was sold at Rs 74.85 per litre in Delhi, while the price of diesel in Mumbai was reduced to Rs 78.46 per litre
Diesel rates in Kolkata and Chennai stood at Rs 76.70 and 79.15 respectively
Petrol and diesel rates are revised on a daily basis by oil-marketing companies on the basis of the rupee-dollar rate and global crude oil
2.50 a litre each for petrol and diesel and urged state governments to match the reduction to provide relief from high fuel prices
After the central government's decision, several states followed the suit
However, Delhi government refused to reduce VAT on both petrol and diesel, as reported by news agency Press Trust of India (PTI).Globally,
oil prices dropped on Tuesday after Saudi Arabia said it could supply more crude quickly if needed, reassuring investors ahead of US
sanctions on Iran's crude exports that start next month
Brent crude, the international benchmark, fell $1.51 a barrel to a low of $78.32, down 1.9 per cent and below its 50-day moving average for
the first time in two months, before recovering a little to around $78.40 by 09:35 GMT or 3:05 pm IST.
