New Delhi, March 6: Fuel prices in India witnessed a dip on Friday with petrol rates being cut by 0.15 paise per litre across all major cities while diesel prices were down by nearly 0.9 to 0.10 paise per litre. With the price cut on March 6, petrol was priced at Rs 71.29 per litre in Delhi, Rs 76.98 per litre in Mumbai, Rs 73.96 per litre in Kolkata and Rs 74.07 per litre in Chennai. According to the official website of Indian Oil Corporation (IOC), the retail pump price of diesel in Delhi was Rs 63.94 per litre, Rs 66.96 per litre in Mumbai, Rs 66.27 per litre in Kolkata and Rs 67.47 per litre in Chennai. Check Fuel Rates in Metro Cities.

In Karnataka, petrol, diesel and liquor would cost more from April 1. The hike in fuel prices come due to tax hike on them in the Budget 2020-21 that Chief Minister BS Yediyurappa presented in the Assembly on Thursday. In his address, Yediyurappa said petrol rate will increase by Rs 1.60 per litre and diesel by Rs 1.59 a litre from April 1, as he proposed to increase 3 per cent value added tax (VAT) on both the fuels.

Check Petrol & Diesel Price in Metro Cities on March 6, 2020:

Metro Cities Petrol Price/ Ltr Diesel Price/ Ltr
Mumbai Rs 76.98 Rs 66.96
Delhi Rs 71.29 Rs 63.94
Chennai Rs 74.07 Rs 67.47
Kolkata Rs 73.96 Rs 66.27

Fuel prices have seen a major downfall as the supply of petrol and diesel loomed over the market as demand in China was hit by the outbreak of coronavirus. The outbreak due to COVID-19 has killed over 3000 people in China. The fuel prices are dependent on the international crude prices and the rupee-US dollar exchange rate. The domestic petrol and diesel prices are reviewed by oil marketing companies on a daily basis. Since June 2017, fuel prices in India are revised daily at 6 am every day. Before this prices were revised every fortnight.

(The above story first appeared on LatestLY on Mar 06, 2020 10:27 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).