INSUBCONTINENT EXCLUSIVE:
Brent crude fell 4.6 per cent in the week, the sixth consecutive decline.Oil-marketing companies slashed the prices of petrol and diesel
across the four metro cities on Sunday
76.71 per litre in New Delhi, Rs
78.65 per litre in Kolkata, Rs
82.23 per litre in Mumbai and Rs
79.66 per litre in Chennai, according to Indian Oil Corporation (IOC)
71.56 per litre in New Delhi, Rs
73.42 per litre in Kolkata, Rs
74.97 per litre in Mumbai and Rs
75.63 per litre in Chennai
Petrol and diesel rates are decided on a daily basis by oil-marketing companies on the basis of the rupee-dollar rate and global crude oil
prices.State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices with effect from 6 am on a
Government allowed revision of fuel rates on a daily basis since mid-June last year to reflect changes in costs instantly.Globally, oil
ended slightly firmer after volatile trading on Friday, supported by expectations that the Organisation of the Petroleum Exporting Countries
would agree to cut output next month, though prices fell for the sixth straight week amid global oversupply concerns, reported news agency
global supply, to support the market, sources told Reuters this week
But other producers, including Russia, have been reluctant to agree to a cut.Brent 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.(With Reuters inputs)
