Zee Media Bureau

New Delhi: The public sector oil marketing companies have announced a cut in petrol price by 80 paise per litre and in diesel by Rs 1.30 a litre here, in line with a softening trend in international markets.

The reduction in rates will be effective from midnight of April 15. Prices of petrol in Delhi will be Rs 59.20 a litre from Thursday as against the current Rs 60 per litre while diesel will cost Rs 47.20 per litre as compared with Rs 48.50 currently.

Prices of petrol and diesel were last revised downwards with effect from April 2 by Rs 0.49/litre and Rs 1.21/litre respectively.

Following are the revised rates of petrol and diesel in four metros after oil firms cut prices with effect from midnight tonight:

PETROL

Current Price Revised Price Decrease

Delhi 60.00 59.20 0.80

Kolkata 67.48 66.81 0.67

Mumbai 67.53 66.69 0.84

Chennai 62.75 61.90 0.85

DIESEL

Current Price Revised Price Decrease

Delhi 48.50 47.20 1.30

Kolkata 53.23 52.08 1.15

Mumbai 55.69 54.26 1.43

Chennai 51.61 50.21 1.40

(All Rates in Rs/litre)

World oil prices shot higher Wednesday on forecasts that US shale production would likely drop and help ease a global supply glut, analysts said.

US benchmark West Texas Intermediate for delivery in May rallied to a two-month peak at USD 54.25 per barrel, before pulling back to USD 53.89, up 60 cents from Tuesday`s close.

Brent North Sea crude for May hit a three-week high at USD 59.63 a barrel. It later stood at USD 59.16 in midday deals, up 73 cents.