INSUBCONTINENT EXCLUSIVE:

Globally, oil prices slumped more than 6 per cent to the lowest in more than a year on FridayFuel rates were further slashed by up to 50

paise per litre across the four metro cities on Sunday by OMCs (oil marketing companies)

Petrol was priced at Rs

74.84 per litre in Delhi, Rs

76.82 per litre in Kolkata, Rs

80.38 per litre in Mumbai and Rs

77.69 per litre in Chennai, according to Indian Oil Corporation (IOC)

Diesel rates stood at Rs

69.70 per litre in Delhi, Rs

71.55 per litre in Kolkata, Rs

72.99 per litre in Mumbai and Rs

75.25 per litre in Delhi, Rs

77.22 per litre in Kolkata, Rs

80.79 per litre in Mumbai and Rs

average, besides the value of the rupee

This is because a large proportion of country's requirement is met through imports.State-run oil marketing companies Indian Oil, Bharat

Petroleum and Hindustan Petroleum revise fuel prices with effect from 6 am on a daily basis

The government allowed revision of fuel rates on a daily basis since mid-June last year to reflect changes in costs instantly.Globally, oil

prices slumped more than 6 per cent to the lowest in more than a year on Friday amid fears of a supply glut even as major producers consider

Fuel Prices Cut By Up To 50 Paise Per Litre In Metros