INSUBCONTINENT EXCLUSIVE:
paise per litre on Saturday across the four metro cities
In Delhi, petrol was sold at Rs 77.89 per litre on Saturday, according to Indian Oil Corporation (IOC)
Petrol rates in Mumbai, Kolkata and Chennai were decreased to Rs
83.40 per litre, Rs 79.81 per litre and Rs 80.90 per litre respectively, with effect from 6 am on Saturday
Diesel prices stood at Rs 72.58 per litre, Rs 76.05 per litre, Rs 74.44 per litre and Rs 76.72 per litre in Delhi, Mumbai, Kolkata and
Globally, oil prices fell to multi-month lows on Friday as global supply increased and investors worried about the impact on fuel demand of
lower economic growth and trade disputes.2
Benchmark Brent crude fell 47 cents or 0.7 per cent to settle at $70.18 a barrel.3
During the session Brent fell below $70 a barrel for the first time since April, as much as 20 per cent off four-year highs reached in
Brent slumped about 3.6 percent for the week and more than 15 percent this quarter.5
On domestic front, except November 7, petrol and diesel prices have been on the decline since October 18
Earlier, petrol price had touched a record high of Rs
84 per litre in Delhi and Rs
91.34 in Mumbai on October 4
Diesel on that day had peaked to Rs
75.45 a litre in Delhi and Rs
On October 4, the Central government announced a cut of Rs
2.50 a litre each for petrol and diesel and urged state governments to match the reduction to provide relief from high fuel prices
State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices with effect from 6 am on a daily
