NEW DELHI : State-run fuel retailers today decreased the price of petrol by 12 paise a litre and that of diesel by 15 paise a litre. Fuel rates were last increased on October 1 and since then rates have fallen by more than a rupee.

In New Delhi, the price of petrol is 73.42 a litre and that of diesel is 66.60 a litre. In Gurgaon, a litre of petrol costs 73.21 and diesel 65.78.

If you are in Bengaluru, you have to shell out 75.87 for petrol and 68.82 for diesel while in Mumbai, you have to pay 79.03 and 69.81, respectively.

Since September 17 when fuel rates began to climb, prices are still above around 1.50 a litre.

In the international market, crude oil rates rose yesterday and today after the Organization of the Petroleum Exporting Countries (OPEC) hinted at making deeper cuts in supply. Optimism was also revived over talks between the United States and China to end their trade war.

Benchmark Brent crude futures were at $59.26 a barrel by 0251 GMT, up 16 cents, or 0.3%, from their previous settlement. Brent settled up 1.3% at $59.10 a barrel on Thursday.

U.S. West Texas Intermediate (WTI) crude futures rose 16 cents, also up 0.3%, from their last close to $53.71 per barrel. In the previous session, WTI settled 1.8% higher at $53.55 a barrel.

Oil now looks set for a weekly gain. Crude has lost about 19% from its peak in April as the prolonged dispute between Beijing and Washington adds to a bleak economic outlook.

(Inputs from agencies)

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