New Delhi: State-run oil companies on November 16 slashed petrol and diesel prices by 68 to 81 paise per litre, effective midnight tonight (Nov 15).

Petrol would cost Rs 29.57 per litre in Delhi as against the prevailing Rs 30.26 a litre while diesel prices have come down from Rs 19.25 to Rs 18.57 per litre, official sources said in New Delhi.

Oil companies announced reduction in petrol and diesel prices following a fall in international crude oil prices. Indian basket of crude oil averaged $ 23.36 a barrel this month as against average procurement price of $ 26.65 per barrel in the second half of October.

During October, the average price of Indian basket of crude was $ 26.89 per barrel.

Petrol prices in Kolkata have been reduced by 69 paise to Rs 31.01 per litre while in Mumbai a litre of petrol would cost Rs 34.23 as opposed to prevailing Rs 34.98. Chennai also saw a 75 paise per litre reduction in petrol prices to Rs 32.05.

Diesel prices in Kolkata fell from Rs 20.64 to Rs 19.96. In Mumbai, the fall was of 81 paise per litre to Rs 23.57 while that in Chennai, diesel prices fell from Rs 21.18 per litre to Rs 20.43 a litre.

PTI