Jingle bells for Delhites as petrol prices hit new 2018 low on Christmas

Petrol price in Delhi fell further on Tuesday to touch a new 2018 low of Rs 69.79 per litre.

On Monday, petrol was sold at Rs 69.86 a litre in the national capital, data on the Indian Oil Corp' website showed.

Similarly, in the southern metropolitan city of Chennai too, petrol price declined to a fresh low level -- Rs 72.41 -- down from selling price of Rs 72.48 on Monday.

In Kolkata and Mumbai, petrol prices which had already hit their respective lowest levels of 2018 earlier in the month declined further on Tuesday to Rs 71.89 and Rs 75.41 against the previous price of Rs 71.96 and Rs 75.48 per litre.

The decline in domestic fuel prices comes amid the recent fall in global crude oil prices.

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.

However, cost of diesel remained stagnant in the four metro cities. In Delhi, Kolkata, Mumbai and Chennai, diesel was prices were maintained at Rs 63.83, Rs 65.59, Rs 66.79 and Rs 67.38 respectively.