New Delhi: State-run oil marketing companies on Monday (June 10) slashed the retail prices of petrol and diesel for the fifth successive day across four metro cities. After the daily revision in retail fuel rates, the price of petrol in all the metro cities lowered 13 paise per litre while diesel became cheaper by 11-12 paise.
Petrol prices were cut in New Delhi by 13 paise to Rs 70.43 a litre on Monday as against Rs 70.56 on Sunday. Diesel in the national capital became cheaper by 11 paise to Rs 64.39 as compared with Rs 64.50 yesterday’s price.
On Sunday, the pump prices of petrol prices were decreased by 16-17 paise per litre in all the metro cities while diesel prices declined by 15-16 paise.
In Mumbai, the retail prices of petrol and diesel are Rs 76.12 litre and Rs 67.51 a litre respectively, according to data available on Indian Oil Corporation website.
Similarly, in Kolkata, petrol is sold at Rs 72.68 a litre, down 13 paise compared with yesterday’s price of Rs 72.81 a litre, and diesel is sold at Rs 66.31, down 11 paise from Rs 66.42 a litre on Sunday. Citizens in Chennai have to shell out Rs 73.17 for a litre of petrol while diesel retailed at Rs 68.11 per litre, 12 paise less than yesterday’s price.
The fuel prices in Delhi are the cheapest among all metros and most state capitals due to lower taxes. As per the country’s daily dynamic pricing mechanism, the fuel prices in the country are based on a 15-day average of global crude prices and the rupee-US dollar exchange rate.
On Monday, in the international oil market, crude prices went up amid reports that OPEC and Russia were expected to keep withholding supplies, and in relief, as the Donald Trump administration revoked its warning to levy import tariffs on Mexico, eradicating one risk over the world economy. International Brent crude oil futures were trading at USD 63.52 per barrel, up 23 cents, or 0.4 per cent, from their last close.