Currently, the petrol and diesel prices are reviewed by oil marketing companies on a daily basis.

State-run oil marketing companies kept petrol and diesel prices unchanged on Monday, marking a second straight day when the fuel prices were kept on hold. With effect from 6 am on Monday, October 14, the price of petrol stood at Rs 73.32 per litre in Delhi, Rs 75.97 per litre in Kolkata, Rs 78.93 per litre in Mumbai and Rs 76.14 per litre in Chennai, the same levels as the previous two days, according to notifications from Indian Oil Corporation. The price of diesel remained at Rs 66.46 per litre, Rs 68.82 per litre, Rs 69.66 per litre and Rs 70.20 per litre in Delhi, Kolkata, Mumbai and Chennai respectively. (Also read: How to receive petrol and diesel rates in your city through SMS)

Here are the petrol, diesel prices in metros (Delhi, Kolkata, Mumbai and Chennai):

Petrol prices

Date Price in rupees per litre Delhi Kolkata Mumbai Chennai 14-Oct-19 73.32 75.97 78.93 76.14 13-Oct-19 73.32 75.97 78.93 76.14 12-Oct-19 73.32 75.97 78.93 76.14

(Source: Indian Oil)

Diesel prices

Date Price in rupees per litre Delhi Kolkata Mumbai Chennai 14-Oct-19 66.46 68.82 69.66 70.2 13-Oct-19 66.46 68.82 69.66 70.2 12-Oct-19 66.46 68.82 69.66 70.2

(Source: Indian Oil)

Currently, the domestic petrol and diesel prices are reviewed by oil marketing companies such as state-run Indian Oil on a daily basis - a scheme adopted in June 2017. Any revisions in the current regime are implemented at the fuel pumps with effect from 6 am.

The domestic fuel prices are broadly determined by international crude oil prices and the rupee-dollar exchange rate.

Oil prices eased on Monday as scant details on the first phase of a trade deal between the United States and China undercut last week's optimism over a US-China thaw that helped to lift crude markets by 2 per cent at the end of last week.