INSUBCONTINENT EXCLUSIVE:
Globally, oil prices plunged to their lowest since late 2017 on Friday in choppy trading.Oil marketing companies slashed the prices of
petrol and diesel across the four metro cities on Friday on falling crude prices
Petrol price was cut by 40 paise per litre in Delhi, Kolkata and Mumbai, and by 42 paise per litre in Chennai
Similarly, diesel prices were trimmed by 41, 42, 43 and 44 paise per litre in Delhi, Kolkata, Mumbai and Chennai, respectively
Petrol and diesel rates are decided on a daily basis by oil marketing companies on the basis of the rupee-dollar exchange rate and global
crude oil prices.Petrol is priced at Rs
75.57 per litre in Delhi, Rs
77.53 per litre in Kolkata, Rs
81.10 per litre in Mumbai and Rs
78.46 per litre in Chennai, according to Indian Oil Corporation (IOC)
70.56 per litre in Delhi, Rs
72.41 per litre in Kolkata, Rs
73.91 per litre in Mumbai and Rs
effect from 6 am on a daily basis
The government allowed revision of fuel rates on a daily basis since mid-June last year to reflect changes in costs instantly.Globally, oil
prices plunged to their lowest since late 2017 on Friday amid choppy trading, weighed down by an emerging crude supply overhang and a
(OPEC) is expected to start withholding output after a meeting planned for December 6.International benchmark Brent crude oil futures fell
their lowest since December 2017 at $61.52 per barrel, before recovering to $62.13 in the intraday trade
That was 47 cents, or 0.8 per cent, below their last close.
