INSUBCONTINENT EXCLUSIVE:
Brent crude futures were down 51 cents, or 0.7 per cent, at $76.38 a barrel in the intraday trade.Oil-marketing companies slashed the prices
of petrol across the four metro cities for the ninth straight day on Friday
Diesel rates were also cut in all the metros except Chennai
80.85 per litre in New Delhi, Rs
82.71 per litre in Kolkata, Rs
86.33 per litre in Mumbai and Rs
84.02 per litre in Chennai, according to Indian Oil Corporation (IOC)
74.73 per litre in New Delhi, Rs
76.58 per litre in Kolkata, Rs
78.33 per litre in Mumbai and Rs
79.02 per litre in Chennai
Petrol and diesel rates are decided on a daily basis by oil-marketing companies on the basis of the rupee-dollar rate and global crude oil
prices.State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices with effect from 6 am on a
Government allowed revision of fuel rates on a daily basis since mid-June last year to reflect changes in costs instantly.Globally, oil
prices fell on Friday and were heading for a third weekly loss, pulled down as Saudi Arabia's OPEC governor said the market may become
oversupplied soon and after a slump in global equities clouded the outlook for demand, reported news agency Reuters.Brent crude futures were
down 51 cents, or 0.7 per cent, at $76.38 a barrel in the intraday trade
The global benchmark is on course for a weekly loss of over 4 per cent.US crude was down 64 cents, or 1 percent, at $66.68 a barrel
The US benchmark is set for a 3.5 per cent loss this week.(With agency inputs)
