Oil marketing companies on Friday reduced petrol and diesel prices across the country. While petrol prices were cut by around 18 paise, diesel prices have been reduced by 14 paise.

According to the revised prices issued by Indian Oil, petrol now costs Rs 79.18 in Delhi, Rs 84.68 in Mumbai, Rs 81.08 in Kolkata and Rs 82.26 in Chennai.

After the revision, diesel price has fallen below Rs 78-mark in Chennai. The fuel is being retailed at 77.85 per litre in the city.

In Delhi, Mumbai and Kolkata, diesel now costs Rs 73.64, Rs 77.18 and Rs 75.50, respectively.

Fuel prices are on a downslide since the last few weeks.

After remaining unchanged for a day on Wednesday, petrol prices were reduced by 18 paise across major cities.

The consecutive cuts in fuel prices came after petrol and diesel prices touched record high levels across the country.

On October 4, petrol had surged to a record high of Rs 84 and diesel had gone up to Rs 75.45 in Delhi.

However, LPG price has continued to surge.

From Thursday, price of non-subsidised LPG cooking gas has gone up by Rs 60 per cylinder in New Delhi and that of subsidised one by a marginal Rs 2.94.

Effectively, the price of a subsidised cylinder will increase to Rs 505.34 from November 1 from Rs 502.40 per cylinder in October.

According to the Indian Oil Corporation, the increase in prices of non-subsidised LPG cylinder is mainly due to changes in international prices and foreign exchange fluctuations.