Fuel price down all over the country for the 10th straight day 

NP NEWS 24 ONLINE – Petrol and diesel prices continued the downfall on Saturday with a cut of around 40 paise and 36 paise, respectively.

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In Delhi, the petrol price has been reduced by 40 paise and is now being retailed at Rs 80.45 per litre. With a similar reduction, petrol now costs Rs 85.93 per litre in Mumbai, Rs 82.31 in Kolkata and Rs 83.60 in Chennai.

Oil-marketing companies slashed the prices of petrol across the four metro cities for the tenth straight day on Saturday.

State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices with effect from 6 am on a daily basis. The government allowed revision of fuel rates on a daily basis since mid-June last year to reflect changes in costs instantly.

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Globally, oil prices rose on Friday, supported by expectations that sanctions on Iran would tighten global supplies, but futures posted a weekly drop as a slump in stock markets and concerns about trade wars clouded the fuel demand outlook, reported news agency Reuters.

Brent crude futures rose 73 cents, or 1 per cent, to settle at $77.62 a barrel. The global benchmark marked a weekly loss of about 2.7 per cent and is down about $10 in three weeks.

US West Texas Intermediate (WTI) crude futures rose 26 cents, or 0.4 per cent, to end at $67.59 a barrel. It posted a weekly loss of about 2.3 per cent.

Diesel rates in Metro cities are as following:

Delhi – Rs 74.38/litre

Mumbai – Rs 77.96/litre

Kolkata – Rs 76.23/litre

Chennai – Rs 78.64/litre