Fuel Prices slashed After Crude Oil Posts 6th consecutive Weekly Loss 

Fuel prices (Petrol & Diesel) in India were cut for the third straight day on Saturday.  This is due to international oil benchmarks posted their sixth consecutive weekly fall on Friday. US WTI ended its session at 56.46 dollar a barrel and Brent closed at 66.76 dollar per barrel, this week.

Sale prices of Petrol and diesel are set by Indian oil marketing companies every morning at 6 am based on international market rates. Accordingly, Petrol prices were lowered by 19 paise to Rs 76.91 in the national capital Delhi, Rs 82.43 in Mumbai, Rs 79.87 in Chennai and Rs 78.85 in Kolkata, while diesel prices per litre were slashed to Rs 71.74 in New Delhi, Rs 75.16 in Mumbai, Rs 75.82 in Chennai and Rs 73.60 in Kolkata.

The US commenced sanctions on Iran this month and has asked international buyers to cut its purchases.

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