New Delhi: Petrol and Diesel prices were raised in four metro cities applicable from 6:00 a.m. on 3rd August 2018.


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Petrol prices were hiked by 7 paise in Delhi, Mumbai, and Chennai respectively while in Kolkata petrol prices were hiked by 9 paise. Diesel prices were hiked by 9 paise in Delhi, 11 paise Kolkata, 9 paise in Mumbai and 10 paise in Chennai respectively


Global crude oil prices have surged nearly 20 percent this year and crossed $80 a barrel in May, their highest since 2014. 


Oil prices were steady on Friday, supported by traders placing new hedges in the futures market in anticipation of a decline in US crude inventories, but held back from advancing by the prospect of rising global supplies. US West Texas Intermediate (WTI) crude futures were at $69.06 per barrel at 0421 GMT, up 10 cents from their last settlement. Brent crude futures were at $73.40 per barrel, down 5 cents from their last close, according to a report by news agency Reuters.


Members of the Organisation of the Petroleum Exporting Countries (OPEC), in June 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.


Prices of non-branded petrol in metro-cities


 


Cities (Rs/litre)
New Delhi 76.50
Kolkata 79.42
Mumbai 83.94
Chennai 79.46

Prices of non-branded diesel in metro-cities


Cities (Rs/litre)
New Delhi 68.02
Kolkata 70.80
Mumbai 72.21
Chennai 71.84

(Source: Indian Oil) Prices may vary from outlet to outlet within a city