NEW DELHI : For the second consecutive day today, petrol and diesel prices were cut today by 14 paise and 15 paise a litre each, respectively. Since Monday, petrol price is down by 49 paise and diesel price by 34 paise.

In New Delhi, a litre of petrol today costs 75.41 and diesel 68.77. In Mumbai, a litre of petrol comes at a price of 81 a litre and diesel 72.11 a litre. If you are in Bengaluru, you will have to pay 77.93 for petrol and 71.06 for diesel. In Chennai, petrol costs 78.34 and diesel 72.67. Those in Hyderabad will have to pay 80.18 for petrol and 74.98 for diesel. In Gurgaon, you pay 74.77 for petrol and 67.64 for diesel.

Although fuel rates have been falling since last Sunday, petrol and diesel prices are still higher than what they were at the beginning of the month. Due to a difference in international benchmark rates of the two fuels, the pace of decrease in diesel price has been slower this month. The price gap between petrol and diesel, as a result, has narrowed down to 6.64 now in Delhi from 9.31 in the beginning of December.

Crude rates

Crude oil prices went up by about 1% yesterday amid hopes that a revamp of the US-Mexico-Canada Free Trade Agreement, which came a day after the signing of the Phase 1 trade deal between the United States and China, will fuel energy demand this year.

Crude rates are still, however, on track for its second consecutive weekly decline. Brent was 3 cents higher at $64.65 by 0123 GMT, after gaining nearly 1% on Thursday. U.S. crude was up 6 cents at $58.58 a barrel, having risen more than 1% the previous session.

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