Fuel prices continue to slide as global crude rates ease

State-run oil-marketing companies continued to cut the prices of key transport fuels — petrol and diesel — well into the fifth week on Tuesday on lower global crude oil prices.

In New Delhi, petrol is being sold at Rs 76.38 per litre after a decrease of 14 paise, and diesel at Rs 71.27 per litre after a decrease of 12 paise.

Meanwhile, in Mumbai petrol is retailing 14 paise lower at Rs 81.90 per litre and diesel at Rs 74.66 after a decrease of 13 paise.

The rates of fuel across India are witnessing a continuous decline due to a fall in the prices of crude oil.

The United States recently softened its stand on Iran`s sanctions and gave its nod to eight countries to continue importing oil from Iran temporarily. 

The list of countries includes India, China, South Korea, Japan, Turkey, Italy, the United Arab Emirates, and Taiwan.

(With inputs from agencies)