After six days, petrol price was cut by 5 paise a litre today. Diesel price was also slashed by 5-6 paise across all the metro cities in the country.

In New Delhi, a litre of petrol today costs 71.89 and diesel 64.65. In Mumbai, a litre of petrol comes at a price of 77.56 a litre and diesel 67.75 a litre. If you are in Bengaluru, you will have to pay 74.34 for petrol and 66.84 for diesel. In Chennai, petrol costs 74.68 and diesel 68.27.

Petrol and diesel rates have been on a declining path since January 12 and so far in February. Petrol and diesel rates in India are reviewed on a daily basis. Oil marketing companies revise the fuel prices every day at 6 am. Various factors like international crude oil prices and rupee-US dollar exchange rate impact petrol and diesel prices in the country.

Crude oil futures today fell by 44 to 3,692 per barrel. Oil demand in China, the world's second-largest crude consumer, has plunged because of travel restrictions to and from the country and quarantines within it. Brent Crude, the international benchmark, fell 1.02% to trade at $57.08 per barrel in New York. Globally, West Texas Intermediate crude oil fell 0.67% at $51.70 per barrel.

(With agency inputs)

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