NEW DELHI : Amid a slump in crude oil rates, state-run fuel retailers today cut the price of petrol and diesel for the second consecutive day today. Petrol price is cheaper by 22 paise a litre while the drop in diesel price has been higher at 25 paise. Yesterday, petrol price was cut by 17 paise while diesel price by 19 paise.

In New Delhi, a litre of petrol today costs 74.43 and diesel 67.61. In Mumbai, a litre of petrol comes at a price of 80.03 a litre and diesel 70.88 a litre. If you are in Bengaluru, you will have to pay 76.92 for petrol and 69.86 for diesel. In Chennai, petrol costs 77.31 and diesel 71.43. Those in Hyderabad will have to pay 79.14 for petrol and 73.72 for diesel. In Gurgaon, you pay 74 for petrol and 66.65 for diesel.

Fuel prices, which have been on a declining trend since January 12, have fallen by around 1.5 a litre each during the period.

Crude oil rates:

After falling 1.9% yesterday, crude oil prices are on track for a fall of up to 5% for the week on growing concern that the deadly virus from China will affect global oil demand. Brent crude futures were 4 cents lower to $62 a barrel by 0225 GMT, its lowest since Dec. 4, after falling 1.9% the previous session. For the week, Brent is down 4%.

U.S. West Texas Intermediate futures were down by 1 cent to $55.58 a barrel, its lowest since Nov. 29. The contract fell 2% on Thursday and is 5% lower for the week.

S&P Global Ratings warned that the virus could hit Chinese consumption following a prediction from Goldman Sachs Group Inc. earlier in the week that oil demand may drop.

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