New Delhi: Petrol prices were unchanged for the third day while diesel prices were reduced in four metro cities applicable from 6:00 a.m. on 27th July 2018.
Diesel prices were reduced by reduced by 7 paise in Delhi, 5 paise in Kolkata, 8 paise in Mumbai and 7 paise in Chennai.
On Tuesday, petrol prices reduced by 7 paise and diesel prices by 10 paise in Delhi. Petrol prices were cut in Kolkata, Mumbai and Chennai by 5,7 and 7 paise respectively while diesel prices were reduced by 8, 10 and 11 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.
Oil prices edged down on Friday after three days of gains, but were still supported by Saudi Arabia`s halt on transporting crude through a key shipping lane, falling US inventories and easing trade tensions between Washington and Europe. Brent futures were down 6 cents at $74.48 a barrel by 0043 GMT, after gaining 0.8 percent on Thursday. U.S. West Texas Intermediate futures were also 6 cents lower, at $69.55, after posting a nearly 0.5-percent gain the previous session, 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