Petrol, diesel price today: After a hiatus of two-days, Oil Marketing Companies (OMCs) on Friday have once again slashed petrol and diesel prices in major metro cities of the country. After today’s price deduction, petrol rates become cheaper by 20-21 paise across all major cities while diesel prices were slashed by 21-23 paise per litre. In the national capital, a litre of petrol is being sold at Rs 68.44 as against Rs 68.65 per litre yesterday. Likewise, diesel is being retailed at Rs 62.44 per litre compared to yesterday’s rate of Rs 62.66 per litre. Over the past few months fuel prices have witnessed regular dip in prices with petrol prices being retailed at its lowest level in over one year whereas diesel prices have been the lowest since March 2018.

Talking about other metro cities, petrol and diesel in Mumbai is being sold at Rs 74.10 per litre and Rs 65.34 per litre, respectively today. Likewise in Chennai and Kolkata, a litre of petrol is being retailed at Rs 71.01 and Rs 70.58 per, respectively. On the other hand, diesel prices in the two cities are retailing at Rs 64.21 per litre and Rs 66.91 per litre, respectively, according to data available with the Indian Oil Corp website.

OMCs have been regularly reducing rates of petrol and diesel since October, 2018. Fuel prices also witnessed a dip in cities like Gurugram and Noida with petrol being sold at Rs 69.77 and Rs 68.74 respectively and diesel at Rs 62.71 and Rs 62.10, respectively. In Noida and Gurugram, petrol became cheaper by 16 paise while diesel became cheaper by 18 paise per litre compared to Thursday's price.

Industry sources said as per the assessment the fuel prices may witness further dip in the days to come. The retail selling price of petrol and diesel is dependent on the international prices of benchmark fuel and the rupee-US dollar exchange rate. This is because a large proportion of the country's requirement is met through imports