New Delhi: Petrol prices were reduced by 16 paise and diesel prices by 12 paise in Delhi applicable from 6:00 a.m. on 20th July 2018. After three consecutive days of pause, petrol prices were changed in Kolkata, Mumbai and Chennai by 12, 16 and 17 paise respectively. Diesel prices were reduced by 10, 12 and 13 paise in these cities.
Last month, members of the Organisation of the Petroleum Exporting Countries (OPEC), agreed to jointly increase oil production, which was estimated to be about one million barrels a day. The deal, which came after a week of tense negotiation, was reportedly aimed at easing fears of a global supply crunch.
Crude prices rose on Friday but were set to drop for the week as concerns about oversupply and lower demand due to a possible economic slowdown caused by the trade conflict between the United States and China, the world`s two biggest oil users. Brent oil rose 7 cents to $72.65 a barrel by 0354 GMT, after rising to $73.04 earlier in the day. , according to a report by news agency Reuters.
Prices of non-branded petrol in metro-cities
Prices of non-branded diesel in metro-cities
(Source: Indian Oil) Prices may vary from outlet to outlet within a city