Petrol and diesel prices are adjusted on global crude oil prices and the rupee-dollar exchange rate.

State-run oil marketing companies reduced prices of petrol and diesel for fourth day in a row. With effect from 6 am on Sunday, the price of petrol in Delhi was Rs 73.89 per litre while diesel was priced at Rs 67.03 per litre, according to an SMS notification from Indian Oil Corporation (IOC). Petrol price in the national capital was reduced by 15 paise per litre and diesel was cut by 12 paise per litre. In the financial capital of the country, Mumbai, price of petrol stood at 79.50 per litre while diesel was at Rs 70.27 per litre.

Currently, petrol and diesel prices are reviewed on a daily basis by oil marketing companies such as state-run Indian Oil. Any changes are implemented at the fuel pumps with effect from 6 am.

Here are the prices of petrol and diesel in the four metros - Delhi, Mumbai, Chennai and Kolkata - today:

City Petrol price (in rupees per litre) Diesel price (in rupees per litre) Delhi 73.89 67.03 Mumbai 79.5 70.27 Kolkata 76.53 69.39 Chennai 76.74 70.81 (Source: Indian Oil Corporation)

Currently, petrol and diesel prices are reviewed on a daily basis by oil marketing companies and any changes are implemented at the fuel pumps with effect from 6 am.

The domestic rates of petrol and diesel are adjusted taking into account factors such as global crude oil prices and the rupee-dollar foreign exchange rates.

Crude oil fell more than 5 per cent for the week, logging its second consecutive weekly decline. Brent futures fell 5.7 per cent for the week, its biggest weekly drop since July. WTI lost 5.5 per cent for the week, also its steepest fall since July.

Saudi Arabia's energy minister, Prince Abdulaziz bin Salman, said Thursday the world's top crude oil exporter had fully restored oil output after attacks on its facilities last month knocked out more than 5 per cent of global oil supply.