After ten days, petrol prices fall around 10 paise across four metros

A faux pas saw the initial announcement coming in that the prices have been cut by 60 paise while the quantum of reduction was only one paisa

Petrol prices fell around 10 paise across the four metro cities on Monday after rising nearly a rupee and a half in the the last 10 days. Prices of diesel also were down around 13-15 paise from the levels on Sunday.

Since fuel prices started an upward movement again on June 5, prices were unchanged on July 11 and July 15 (Sunday), according to data from the Indian Oil Corp's website.

In the national capital, petrol was priced at Rs 76.84 on Monday, 11 paise down from the previous price of Rs 76.95 a litre.

In the other key cities of Kolkata, Mumbai and Chennai, the fuel was sold at Rs 79.51, Rs 84.22 and Rs 79.76 per litre respectively, against the previous levels of Rs 79.61, Rs 84.33 and Rs 79.87 a litre.

Domestic prices of transportation fuel are largely determined by market forces and global crude oil prices and are changed on a daily basis as per the dynamic pricing system.

The Brent crude oil prices have eased in the past one week and are currently around $75 per barrel.

Cost of diesel in Delhi, Kolkata, Mumbai and Chennai were at Rs 68.47, Rs 71.03, Rs 72.65, Rs and 72.28 per litre, down from the Sunday's levels of, Rs 68.61, Rs 71.16, Rs 72.80 and Rs 72.43 per litre.


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