Petrol, diesel rates: Currently, the fuel prices are reviewed by oil marketing companies on a daily basisPetrol and diesel prices were reduced by 16-18 paise per litre in Delhi and Mumbai on Friday.

With effect from 6 am on Friday, November 16, petrol prices were at Rs 77.1 per litre and Rs 82.62 per litre in Delhi and Mumbai respectively, according to a notification from Indian Oil Corporation.

Diesel rates stood at Rs 71.93 per litre and Rs 75.36 per litre in Delhi and Mumbai.

In Kolkata, petrol prices were at Rs 79.04 per litre on Friday, and diesel rate was at Rs 73.79 per litre.

In Chennai, petrol prices were at Rs 80.07 per litre and diesel rate at Rs 76.02 per litre, according to Indian Oil Corporation (IOC).CityPetrol rate (rupees per litre)Diesel rate (rupees per litre)SMS text to receive latest price through SMS 16-Nov15-Nov16-Nov15-Nov Delhi77.177.2871.9372.09RSP 102072Kolkata79.0479.2173.7973.95RSP 119941Mumbai82.6282.875.3675.53RSP 108412Chennai80.0780.2676.0276.19RSP 133593Indian Oil provides provides information on the latest petrol and diesel prices to consumers through an SMS notification service.

In order to receive the current rates of petrol and diesel in the four metros and 35 other cities across the country, the consumer is required to send an SMS to 9224992249 in the following format:RSP<space>petrol pump dealer code"For example, SMS 'RSP 102072' to 92249 92249 for petrol and diesel prices in Delhi," according to Indian Oil's website - iocl.com.State-run oil marketing companies such as IOC currently revise fuel rates on a daily basis.

The domestic rates of fuels are determined by global crude oil prices and the rupee-dollar exchange rate.