New Delhi: Big relief for consumers as fuel prices became cheaper once again on Saturday. The price of petrol was cut by 24 paise and that of diesel by 27 paise on Saturday across all major cities in India.
The petrol now costs at Rs 72.45 a liter in Delhi, Rs 78.11 a liter in Mumbai, Rs 75.13 a liter in Kolkata and Rs 75.27 a liter in Chennai.
Similarly, diesel costs Rs 65.43 a liter in Delhi, Rs 68.57 a liter in Mumbai, Rs 67.79 per liter in Kolkata and Rs 69.10 a liter in Chennai, according to the Indian Oil Corporation website.
In the month of February, petrol has become cheaper by 82 paise per liter and diesel by 85 paise a liter in Delhi.
International crude oil prices fell over 1 percent on Friday as Russia said it needed more time before committing to cut output sought by other large producers while the coronavirus outbreak triggered worries about global crude demand.
Brent crude was trading at $54.50 per barrel, a decrease of 1.12 percent from the previous close.
The retail prices of fuel are dependent on the international crude prices and the rupee-US dollar exchange rate as India imports almost 80 percent of its crude requirements.
Domestic petrol and diesel prices are reviewed by oil marketing companies on a daily basis. Price revisions are implemented at the fuel stations with effect from 6 a.m.
Ms Kalinga