On Friday, petrol, diesel prices fell between 14-22 paise per litre across major cities of the country. Representative image

New Delhi: Fuel prices saw another cut on Friday following which petrol prices touched new lows this year. On Friday, petrol, diesel prices fell between 14-22 paise per litre across major cities of the country. After Friday's revision, petrol price in Delhi touched Rs 69.55 as against Rs 69.74 yesterday. Diesel in the national capital is selling at Rs 63.62, down 14 paise compared to yesterday's price.

In Mumbai, petrol is retailing at Rs 75.18 after today's correction while diesel is selling at Rs 66.57, down 15 paise from yesterday's price of Rs 66.72. In Chennai and Kolkata, petrol is sold at Rs 72.16 and Rs 71.65 respectively, down 20 paise and 19 paise respectively from yesterday's price. Diesel, in these cities, is selling at Rs 67.31 and Rs 65.51 respectively.

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In Noida petrol is priced at Rs 69.60, down 15 paise compared to yesterday's price of Rs 69.75 and diesel is sold at Rs 63.09 as against Rs 63.21 on Thursday. In Gurugram also petrol prices fell by 15 paise to Rs 70.63 per litre and diesel became cheaper by 12 paise to Rs 63.71.

Brent crude, a global benchmark for crude prices, was trading at around the $53 per barrel mark in Asian trade on Friday. However, both crude benchmarks are still down roughly 40 percent from highs in October, pressured by concerns about oversupply and over the outlook for the global economy.

The crude price fall brings cheer for India as the country imports more than 80 per cent of its crude requirement. It will help in lowering the current account deficit of the country and will cool inflation further, raising hopes for a repo rate cut from RBI.