Oil-marketing companies cut prices of petrol and diesel across four metro cities for the fourth straight day today. While petrol prices were cut by 42 paise per litre in Delhi and Kolkata, the fuel prices were slashed by 41 paise and 44 paise per litre in Mumbai and Chennai, respectively.
The revised prices stand at Rs 71.73 per litre in New Delhi, Rs 73.79 per litre in Kolkata, Rs 77.34 per litre in Mumbai and Rs 74.46 per litre in Chennai, according to state-run Indian Oil Corporation's (IOC) website, iocl.com.
Diesel is being sold at Rs 66.11 per litre in New Delhi, Rs 67.86 per litre in Kolkata, Rs 69.27 per litre in Mumbai and Rs. 69.88 per litre in Chennai.
Diesel saw a price cut of 17 paise per litre in Delhi. In Kolkata, Mumbai and Chennai, diesel became cheaper by 18 paise per litre.
State-run oil marketing companies (OMC) - Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum revise petrol and diesel prices on a daily basis.
The three OMCs operate over 54,000 petrol pumps in the country.
OMCs started the practice of revising fuel prices in line with international oil prices on a daily basis on May 1, 2017. Before then, fuel prices were revised on a fortnightly basis.
Globally, oil prices were mostly steady on Friday, ending the week slightly lower as trade tensions stoked by a US move to hike tariffs on Chinese goods overshadowed tightened global supplies and expectations of rising US refining demand, reported news agency Reuters.
Brent crude oil settled 23 cents, or 0.4 per cent, higher at $70.62 a barrel, but posted a weekly loss of 0.3 per cent. US West Texas Intermediate (WTI) crude futures ended 4 cents lower at $61.66, with a weekly loss of 0.5 per cent.
Edited by Aseem Thapliyal