Most cities witnessed indifference in petrol prices, whereas diesel prices slashed to ₹64.38 going down by 13 paise on Sunday. Petrol in Delhi is priced at ₹70.34 remaining unchanged.
The value of rupee falling against US dollar, which has fallen over 3 percent in the last few days, has offset gains from the falling crude oil prices.
In Mumbai also petrol prices did not budge, it is sold at ₹75.96 while diesel prices went down by 12 paise which is retailed at ₹67.38 per liter.
Similarly, in Chennai, petrol is retailing at ₹72.99 same as on Saturday. Diesel witnessed a cut of 13 paise making it ₹67.97 per liter. Kolkata observes 12 paise cut in diesel prices, retailed at ₹66.14, while petrol rates remain unchanged at ₹72.43 per liter.
However, in Noida, petrol price fell down by 7 paise and is being retailed at ₹70.22 per liter, while diesel rates gashed to ₹63.74 observing a fall of 17 paise per liter.
Petrol prices across the major cities in the country have declined by nearly 15-20 percent from the record high levels they had reached in the month of October this year. This fuel price decline is a result of falling crude oil prices. Crude prices have fallen by over 30 percent since early October when it hit $86 per barrel mark. Brent crude futures were around $61 per barrel mark on Friday after rising nearly 2 percent on Thursday.
Retail fuel prices in India depend on both international oil price and the rupee-dollar exchange rates.