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Fuel prices cut in four metro cities, petrol now costs Rs 75.36/litre in Mumbai

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The fuel prices fell in four major metros — Mumbai, New Delhi, Kolkata and Chennai — on Friday. The petrol prices were cut by five paise in the four cities while the diesel prices were cut by seven paise in Mumbai, New Delhi and Chennai and by eight paise in Kolkata.

Fuel prices cut in four metro cities, petrol now costs Rs 75.36/litre in Mumbai
The fuel prices fell in four major metros — Mumbai, New Delhi, Kolkata and Chennai — on Friday. The petrol prices were cut by five paise in the four cities while the diesel prices were cut by seven paise in Mumbai, New Delhi and Chennai and by eight paise in Kolkata.
The per litre petrol price in Mumbai stood at Rs 75.36 while diesel was at Rs 66.72 per litre.
According to the Indian Oil Corp data, petrol prices in Kolkata, New Delhi and Chennai were at Rs 71.84 per litre, Rs 69.74 per litre and Rs 72.36 per litre, respectively, while diesel stood at Rs 65.51 a litre in Kolkata, Rs 63.76 a litre in Delhi and Rs 67.31 a litre in Chennai.
As per the country's dynamic pricing mechanism, the domestic fuel prices depend upon international fuel prices on a 15-day average and the value of the rupee.
Retail pump price is calculated after adding central excise duty, dealers commission and value-added tax (VAT) to the base price.
The slide in domestic fuel prices comes following a recent decline in global crude due to oversupply concerns.
US oil prices rose on Friday to claw back some of the ground they lost in the previous session, but growth in US crude stockpiles and ongoing concerns about the global economy kept markets under pressure.
The gains come after oil prices fell to their lowest in more than a year on Thursday, a day after their biggest one-day rally in two years, pulled down by worries about the global economy and a supply glut.
(With inputs from agencies)
 
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