Prices of Petrol are never fixed in India. It is fluctuating from time to time. There is a sharp cut in the retail prices of petrol by 12-16 paise across four metro cities on Monday (July 29 ). On the other hand, Diesel prices were slashed by 7-12 paise.

In New Delhi price of Petrol is decreased by 15 paise to Rs 72.99 a litre on Monday as against Rs 73.14 on Sunday. Diesel in the national capital became cheaper by 11 paise to Rs 66.07 as compared with Rs 66.18 Saturday’s price.

In Mumbai, the retail prices of petrol and diesel are Rs 78.61 (14 paise less) a litre and Rs 69.25 (11 paise decrease) a litre respectively, according to the survey. Similarly, in Kolkata, petrol is sold at Rs 75.63 a litre, down 12 paise compared with yesterday’s price of Rs 75.75 a litre, and diesel is sold at Rs 68.22, down 7 paise from Rs 68.29 a litre on Sunday.

Citizens in Chennai have to buy petrol at Rs 75.80 (16 paise less) for a litre of petrol while diesel retailed at Rs 69.78 per litre, 12 paise less than yesterday’s price. In Noida, petrol is retailing at Rs 72.30 a litre, decrease by 12 paise from Rs 72.42 a litre on Sunday. Diesel became cheaper by 10 paise to Rs 65.19 as compared with Rs 65.29 yesterday’s price  The price of petrol in Gurugram came down by 12 paise to Rs 72.85 a litre on Monday.

Domestic petrol and diesel prices have largely been on a downward slide since July 29. As per the country’s daily dynamic pricing mechanism, the retail fuel price is dependent on the global prices of benchmark fuel and the rupee-US dollar exchange rate as India imports 80 per cent of its crude requirements.