New Delhi June 2 (IANS) Lower global crude oil cost along with a strengthened rupee pulled the prices of key transportation fuel -- petrol and diesel -- down by around nine paise in the four metro cities.
On Saturday Brent crude oil prices slipped to around $76 per barrel from $77 a barrel as global supply concerns eased. A decline in global crude oil prices in turn lessen the cost of refined products like gasoline or petrol.
As per the country s pricing mechanism the domestic petrol prices are dependent on the international fuel price on a 15-day average.
Besides the Indian rupee has strengthened.
On a weekly basis it appreciated by 72 paise to close at 67.06 against the US dollar from its previous week s close of 67.78 per greenback.
Consequently in the national capital petrol was sold at Rs 78.20 per litre down from Rs 78.29 on Friday data on the Indian Oil Corp s website showed.
In Mumbai and Chennai petrol prices were at Rs 86.01 and Rs 81.19 a litre respectively down nine paise from Friday s levels.
In Kolkata petrol price fell by eight paise to Rs 80.84 per litre.
Prices of the key transportation fuels have been cut marginally on a daily basis under the dynamic pricing system since May 30 as global crude oil prices began to ease.
In tandem with petrol prices diesel prices also witnessed a decline. In Delhi Kolkata Mumbai and Chennai the fuel was sold at Rs 69.11 Rs 71.66 Rs 73.58 and Rs 72.97 per litre -- all prices down nine paise from Friday s levels.
The recent surge in prices of key transportation fuel was attributed to a rise in crude oil cost which rose till last week and the high excise duties levied on the fuel in the country.

--IANS rrb-rv/nir