New Delhi, March 8: Fuel prices in India were slashed for the fourth consecutive day on Sunday. According to the official website of Indian Oil Corporation (IOC), the price of petrol and diesel today was cut by 18-20 paise per litre across different metro cities. Petrol prices was cut by 19 paise in Delhi and Kolkata, 18 paise in Mumbai and 20 paise a litre in Chennai on March 8, 2020. With the price cut, petrol was priced at Rs 70.83 per litre in Delhi, Rs 73.51 per litre in Kolkata, Rs 76.53 per litre in Mumbai and Rs 73.58 per litre in Chennai.

Meanwhile, the retail pump price of diesel dipped 18 paise in Delhi and Kolkata, 19 paise in Mumbai and 20 paise in Chennai. In Delhi, diesel was priced at Rs 63.51 per litre, Rs 65.84 per litre in Kolkata, Rs 66.50 per litre in Mumbai while it was Rs 67.01 per litre in Chennai. Check Fuel Rates in Metro Cities.

Check Petrol & Diesel Price in Metro Cities on March 8, 2020:

Metro Cities Petrol Price/ Ltr Diesel Price/ Ltr
Mumbai Rs 76.53 Rs 66.50
Delhi Rs 70.83 Rs 63.51
Chennai Rs 73.58 Rs 67.01
Kolkata Rs 73.51 Rs 65.84

According to reports, the price of petrol in Delhi reached below Rs. 71-mark, its lowest level since September 12, 2019 while that of diesel touched its lowest level since January 12 last year. On Friday, Brent crude prices fell nearly nine per cent in the international market, its biggest daily percentage fall since December 2008.

The fuel prices are reviewed by oil marketing companies on a daily basis. Price revisions are implemented at the fuel stations with effect from 6 am. The fuel prices are dependent on the international crude prices and the rupee-US dollar exchange rate as India imports almost 80 per cent of its crude requirements.

(The above story first appeared on LatestLY on Mar 08, 2020 12:33 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).