The news comes when climate activists and scientists are urging world economies to cut down their reliance on fossil fuels and reduce carbon emissions to save the planet from the climate crisis.
Post the changed price, the cooking gas in Delhi will cost Rs 637 per cylinder as against Rs 737.50 currently, the IOC said in a statement while the subsidised cooking gas would cost Rs 494.35 per cylinder.
In Delhi, petrol was sold for Rs 69.93 per litre, down from Rs 69.99 a litre on Saturday.
Prices have been on the rise since May 20, a day after the final phase of polling for the Lok Sabha elections ended.
State-run oil marketing companies increased petrol rates by 49-60 paise per litre on Sunday, while diesel prices were raised by 59-75 paise across the four major metros.
The decline in domestic fuel prices comes amid the recent fall in global crude oil prices.
Cost of the fuel in Delhi fell below the Rs 70 per litre mark on December 24 for the first time in the year since January.
In Delhi, Kolkata, Mumbai and Chennai, diesel was prices were maintained at Rs 63.83, Rs 65.59, Rs 66.79 and Rs 67.38 respectively.
Prices in Kolkata, Mumbai and Chennai were Rs 72.16, Rs 75.69 and Rs 72.70, respectively, against the previous levels of Rs 72.36, Rs 75.89 and Rs 72.91 per litre.
Iranian oil is a lucrative buy for refiners as the Persian Gulf nation provides 60 days of credit for purchases, terms not available from suppliers of substitute crudes -- Saudi Arabia, Kuwait, Iraq, Nigeria, and the US.
