INSUBCONTINENT EXCLUSIVE:
In Mumbai, petrol and diesel prices were Rs 82.43 per litre and Rs 75.16 per litre respectively.Petrol and diesel prices were reduced by
19-20 paise per litre across major metro cities on Sunday
In Delhi, petrol was sold at Rs 76.91 per litre and diesel rate stood at Rs 71.74 per litre with effect from 6:00 am on Sunday, according to
state-run Indian Oil Corporation
In Mumbai, petrol and diesel prices were Rs 82.43 per litre and Rs 75.16 per litre respectively
per litre and 75.82 per litre in Kolkata and Chennai respectively on Tuesday.As per the daily dynamic pricing regime, domestic fuel prices
depend on international fuel prices on a 15-day average, besides the value of the rupee
This is because a large proportion of country's requirement is met through imports.State-run oil marketing companies Indian Oil, Bharat
Petroleum and Hindustan Petroleum revise fuel prices with effect from 6 am on a daily basis
Government allowed revision of fuel rates on a daily basis since mid-June last year to reflect changes in costs instantly.Globally, oil
prices ended slightly firmer after volatile trading on Friday, supported by expectations that the Organisation of the Petroleum Exporting
Countries (OPEC) would agree to cut output next month, though prices fell for the sixth straight week amid global oversupply concerns
Benchmark Brent crude settled up 14 cents, or 0.2 per cent, at $66.76 a barrel
The global benchmark fell 4.6 per cent in the week, the sixth consecutive decline, reported news agency Reuters.(With inputs from
