New Delhi: Fuel prices have been slashed for the eighth consecutive day with petrol price been cut by nearly Rs 2 per litre and diesel by Re 1 per litre. In the national capital, petrol price has been slashed by Rs 1.98 per litre and diesel by Rs 0.96 a litre. With the decrease in price, petrol now stands at Rs 80.85 per litre and diesel is priced at Rs 74.73 a litre. (Check the live Petrol and Diesel Price Here)

In Kolkata, petrol price stands at Rs 82.71 per litre while it is Rs 86.33 per litre in Mumbai and Rs. 84.02 per litre in Chennai, as per the Indian Oil Corporation (IOC). Meanwhile, diesel is selling at Rs 76.58 per litre in Kolkata, Rs 78.33 per litre in Mumbai and Rs 79.02 per litre in Chennai.

Globally, oil prices fell on Friday and were heading for a third weekly loss, pulled down as Saudi Arabia’s OPEC governor said the market may become oversupplied soon and after a slump in global equities clouded the outlook for demand, reported news agency Reuters.

Brent crude futures were down 51 cents, or 0.7 per cent, at $76.38 a barrel in the intraday trade. The global benchmark is on course for a weekly loss of over 4 per cent.

US crude was down 64 cents, or 1 per cent, at $66.68 a barrel. The US benchmark is set for a 3.5 per cent loss this week.

(With Agency Inputs)