Petrol price was cut for the third consecutive day on Saturday. Oil marketing companies on Saturday cut petrol prices by five paise per liter in Delhi, Kolkata, Mumbai and Chennai. Petrol has become cheaper by 16 paise in Delhi, Mumbai and Chennai in these three days, while 17 paise in Kolkata. At the same time, the price of diesel is still stable. There was no change in the price of diesel for the fifth consecutive day.

What is the new rate list?
According to the website of Indian Oil, the price of petrol in Delhi, Kolkata, Mumbai and Chennai has come down to Rs 74.84, Rs 77.50, Rs 80.49 and Rs 77.81 per liter respectively. The price of diesel in the four metros remains the same at Rs 66.04, Rs 68.45, Rs 69.27 and Rs 69.81 per liter respectively.

However, after the rise in the price of crude oil in the international market this week, the price of petrol and diesel is likely to increase again. Commodity market experts point out that there is a sharp trend in the market due to the possibility of resolving a trade dispute between the US and China for 18 months due to which the price of crude oil has gone up to almost three months high.

What is the condition of crude oil?
The February delivery contract for Brent crude, the benchmark crude oil on the Intercontinental Exchange, was up 1.14 percent at $ 64.93 a barrel from the previous session, while the price of crude rose by $ 65.75 a barrel during trading.

At the same time, American light crude West Texas Intermediate on January delivery contract on the New York Mercantile Exchange gained one per cent to close at $ 60.45 per barrel, while WTI rose to $ 59.61 per barrel during trading.