Fuel prices dip amid reports of deal to cut crude output

In the national capital, petrol price fell to Rs 72.23 per litre, against Saturday’s level of Rs 72.53, according to data on the Indian Oil Corp’s website.

The price in Delhi was the lowest recorded level in 2018-19 so far, with the previous low being Rs 73.73 on April 1.

In other metros too, petrol prices fell by around 30-40 paise on Sunday and recorded the lowest prices in the current fiscal. Prices in Kolkata, Mumbai and Chennai on Sunday are Rs 74.25, Rs 77.80 and Rs 74.94 per litre, respectively, against the previous day’s respective levels of Rs 74.55, Rs 78.09 and Rs 75.26 per litre.

Diesel prices also declined on Sunday in tandem with the cost of petrol. In Delhi, Kolkata, Mumbai and Chennai, diesel per litre was sold for Rs 67.02, Rs 68.75, Rs 70.15 and Rs 70.77, respectively, compared to Rs 67.35, Rs 69.05, Rs 70.50 and Rs 71.12 on Saturday. The fall in domestic fuel prices comes amid the recent decline in crude oil prices.