Petrol, diesel prices slashed by 40 paise as global crude oil slips

Fuel prices in various parts of the country continued to witness a downward trend on Friday, owing to the fall in crude oil prices in the international market.

Petrol and diesel prices in all the major cities were slashed down by 40-44 paise.

A litre of petrol today costs Rs 75.57 in Delhi, Rs 81.10 in Mumbai, Rs 77.53 in Kolkata and Rs 78.46 in Chennai.

Diesel is being retailed at Rs 70. 56 in per litre Delhi, Rs 73. 91 in Mumbai, Rs 72. 41 in Kolkata and Rs 74. 55 in Chennai.

Earlier in October, fuel prices had skyrocketed owing to fluctuations in the international markets. The highest price was recorded on October, however, soon after rates started to nosedive.

The dip in prices comes after the United States softened its stand on Iran's sanctions and allowed eight countries to continue importing oil from Iran temporarily. These countries are India, China, South Korea, Japan, Turkey, Italy, the United Arab Emirates, and Taiwan.