Fuel price drops again for the third time in the country

 NEW DELHI: On Saturday the fuel prices followed the downward trend for the third straight day with petrol rates getting cut down by 32 paise and diesel by 40 paise. In the national capital, a litre of petrol now cost Rs 75.25 from Rs 75.57 earlier, while diesel is being sold at Rs 70.16.

The petrol rates in Kolkata and Mumbai are slashed by 31 paise, whereas in Chennai, the fuel is now 34 paise cheaper. Diesel now costs 40 paise, 43 paise and 42 paise less in Kolkata, Mumbai and Chennai respectively.

On Friday the Petrol price had declined by 40 paise across the four metro cities. The decline in the price is because of the declining international crude oil cost. The Brent crude oil fell $3.34 a barrel, or 5.3 per cent, to $59.26, its lowest since October 2017.

Oil had dropped to its lowest level in more than a year and continued concerns regarding a rising global surplus, which even as producers were considering the cutting output to the curb supply. Prices were on the course for their biggest one-month decline since 2014.