Fuel prices remained unchanged for a third day in four metro cities on Thursday, with petrol selling at 76.25/litre and diesel at Rs 67.55 per litre in Mumbai.
According to the Indian Oil Corp data, petrol prices in Kolkata, New Delhi and Chennai were at Rs 72.71 per litre, Rs 70.63 per litre and Rs 73.29 per litre, respectively, while diesel stood at Rs 66.30 a litre in Kolkata, Rs 64.54 a litre in New Delhi and Rs 68.14 a litre in Chennai.
On Monday, petrol prices rose by 9-10 paise per litre while diesel became costlier by 7-8 paise per litre in Mumbai, Kolkata, New Delhi and 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. Oil prices slid just over 4 percent overnight, bringing Brent’s losses since its October top to 37 percent.
(With inputs from agencies)