New Delhi, Aug 22: The oil marketing companies (OMC) reduced petrol prices across the key metros on Sunday after keeping them unchanged for 35 days.
In Delhi, petrol price was cut to Rs 101.64 per litre from Rs 101.84 a litre. Similarly, in Mumbai and Kolkata, the fuel was sold for Rs 107.66 and Rs 101.93 per litre, against the previous levels of Rs 107.83 and Rs 102.08 per litre respectively. In Chennai, petrol price was cut to Rs 99.32, down from Rs 99.47 a litre. In the Tamil Nadu capital, petrol prices fell by almost Rs 3 per litre on August 14 after the state government cut VAT on the fuel.
Diesel prices also declined across the four metros on Sunday. Price of the fuel in Delhi was lowered by 20 paise to Rs Rs 89.07 per litre from the previous level. Similarly, diesel prices in Mumbai, Chennai and Kolkata were cut to Rs 96.64, Rs 93.66 and Rs 92.13 per litre, respectively.
This cut in fuel prices comes amid declining global crude oil prices. The October contract of Brent crude oil on the Intercontinental Exchange (ICE) was trading at $65.18. The pump prices of auto fuels have been static since July 18.
The long price pause for auto fuels came after fuel prices increased for 41 days in the current financial year. The 41 increases took up petrol prices by Rs 11.44 per litre in Delhi. Similarly, diesel rates increased by Rs 8.74 per litre in the national capital.