Petrol and diesel prices were cut sharply today, according to Indian Oil website. In Delhi, petrol prices were cut by 30 paise to ₹73.86 a litre, the lowest rate in over two months. In Chennai, petrol prices were cut to ₹76.71 a litre and diesel to ₹70.73 a litre. Retail fuel prices in India is dependent on the international crude prices and the rupee-US dollar exchange rate. A hint of any economic slowdown could push down crude prices sharply because the market is so oversupplied, they say.

Source: Mint January 26, 2020 05:03 UTC