Diesel Prices Slashed Across Metros But Petrol Rates Unchanged

Diesel prices were slashed across the four metro cities on Friday, according to Indian Oil Corporation (IOC). One litre of diesel was being sold in national capital New Delhi for Rs 67.72, in Kolkata for Rs 70.43, in Mumbai for Rs 71.89, and in Chennai for Rs 71.52. On Thursday, diesel was sold in Delhi at the rate of Rs 67.79/litre, in Kolkata at Rs 70.48/litre, in Mumbai at Rs 71.97/litre, and in Chennai at Rs 71.59/litre. Thus, diesel prices were reduced in Delhi by 7 paise, in Kolkata by 5 paise, in Mumbai by 8 paise, and in Chennai by 7 paise.

(Petrol, diesel prices today across the four metros)

Petrol prices, however, were kept unchanged across the four cities. One litre of petrol was being sold in Delhi for Rs 76.23, in Kolkata for Rs 79.10, in Mumbai for Rs 83.68, and in Chennai for Rs 79.18, stated iocl.com.

Globally, 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, reported news agency Reuters.

Brent futures were down 6 cents at $74.48 a barrel by 0043 GMT, after gaining 0.8 per cent on Thursday.

US West Texas Intermediate futures were also 6 cents lower, at $69.55, after posting a nearly 0.5-per cent gain the previous session.

US President Donald Trump and Jean-Claude Juncker, president of the European Commission, the EU's executive body, struck a surprise deal on Wednesday that ended the risk of an immediate trade war between the two powers.

A trade war would likely hit demand for commodities like oil, which is used heavily in shipping, construction and other economic activity.

(With agency inputs)