Fuel price cut: Petrol price down by 20 paise in four metropolitan cities

Written by Newsroom Staff December 23, 2018 15:34

New Delhi: Fuel prices declined for the second consecutive day with petrol prices falling around 20 paise in the four metropolitan cities.

Petrol price cut by 15 paise/litre

According to the IANS, in the national capital, petrol was sold at Rs 70.07, down from Rs 70.27 per litre on Saturday, according to data on the Indian Oil Corp’s website.

Prices in Kolkata, Mumbai and Chennai were Rs 72.16, Rs 75.69 and Rs 72.70, respectively, against the previous levels of Rs 72.36, Rs 75.89 and Rs 72.91 per litre.

Andhra Pradesh announces Rs 2 cut in VAT on petrol, diesel

The decline comes amid downward movement in global crude oil prices.

As per the country’s dynamic pricing mechanism, the domestic fuel prices depend upon international fuel prices on a 15-day average and the value of the rupee.

Diesel prices too fell on Sunday, in tandem with the petrol price movement. In the Delhi, Kolkata, Mumbai and Chennai, the fuel was sold for Rs 64.01, Rs 65.77, Rs 66.98 and Rs 67.58, respectively, down from the Saturday’s Rs 64.19, Rs 65.95, Rs 67.17 and Rs 67.77 per litre.