Petrol and diesel prices are reviewed by state-run oil marketing companies every day

Highlights Petrol prices cut by seven paise per litre in four metros on Tuesday

Sharp fall in crude oil rates leads to reduction in domestic fuel prices

Global crude oil plunges more than 6% to lowest level over a year

Petrol prices were at the year 2018's lowest levels in Delhi, Kolkata, Mumbai and Chennai, while diesel prices were at their lowest since March. Petrol prices were reduced by seven paise per litre in the four metros on Tuesday, while diesel prices were kept unchanged compared to the fuel rates on Monday, according to state-run Indian Oil Corporation's website, iocl.com. Currently, petrol and diesel prices are reviewed by state-run oil marketing companies every day, based on crude oil and rupee-dollar exchange rates. Any revisions in petrol and diesel prices are implemented at the fuel stations with effect from 6 am.

Petrol price, diesel price (in rupees per litre) in Delhi, Mumbai

With effect from 6 am on Tuesday, December 25, petrol prices stood at Rs 69.79 per litre and Rs 75.41 per litre in Delhi and Mumbai respectively. Diesel prices in the metros were at Rs 63.83 per litre and Rs 66.79 per litre respectively, according to Indian Oil Corporation.