New Delhi: The retail prices of petrol were lowered by 7-9 paise across four metro cities on Thursday (June 13). Diesel prices, on the other hand, were slashed by 6 paise.

Petrol prices were cut in New Delhi by 8 paise to Rs 70.35 a litre on Friday as against Rs 70.43 on Wednesday. Diesel in the national capital became cheaper by 6 paise to Rs 64.33 as compared with Rs 64.39 yesterday’s price. It is worth noting that state-controlled oil marketing companies on Wednesday refrained from changing the pump prices of petrol and diesel for the second successive day across major cities of the country.

In Mumbai, the retail prices of petrol and diesel are Rs 76.04 (8 paise less) a litre and Rs 67.45 (6 paise decrease) a litre respectively, according to data available on Indian Oil Corporation website.

Similarly, in Kolkata, petrol is sold at Rs 72.61 a litre, down 7 paise compared with yesterday’s price of Rs 72.68 a litre, and diesel is sold at Rs 66.25, down 6 paise from Rs 66.31 a litre on Wednesday.

Citizens in Chennai have to shell out Rs 73.08 (9 paise less) for a litre of petrol while diesel retailed at Rs 68.05 per litre, 6 paise less than yesterday’s price. In Noida, petrol is retailing at Rs 70.27 a litre, decrease by 6 paise from Rs 70.33 a litre on Wednesday. The price of petrol in Gurugram came down by 6 paise to Rs 70.79 a litre on Thursday.

The retail prices of fuel in Delhi are the cheapest among all metros and most state capitals due to lower taxes. Domestic petrol and diesel prices have largely been on a downward slide since May 29. As per the country’s daily dynamic pricing mechanism, the price of petrol and diesel is dependent on the global prices of benchmark fuel and the rupee-US dollar exchange rate as India imports 80 per cent of its crude requirements.

On Thursday, in the international oil market, crude prices stabilised, after tumbling as much as 4 per cent in the earlier session to nearly five-month lows amid a sudden rise in US crude stockpiles and doubts about lower demand growth. International Brent crude oil futures were trading at USD 60.09 per barrel, up 12 cents, or 0.2 per cent, from their last close.