Petrol, Diesel Prices Slashed Across Metros. Details Here

Petrol and diesel prices were slashed across the four metro cities with effect from 6 am on Friday, according to the website of Indian Oil Corporation (IOC). Petrol and diesel prices, which are revised by fuel retailers every day based upon global crude oil prices and the rate of the rupee, were cut despite the local currency closing at an all-time low of Rs 69.05 against the US dollar on Thursday. Global oil prices also gained after Saudi Arabia's OPEC governor said the kingdom's exports are likely to fall next month and inventories may be squeezed in the third quarter.

(Petrol and diesel prices are revised every day based upon global crude oil prices and the rate of the rupee.)

Petrol, Diesel Rates Today

A litre of petrol was being sold for Rs 76.62 in New Delhi, for Rs 79.39 in Kolkata, for Rs 84.06 in Mumbai and for Rs 79.59 in Chennai.

Diesel was being sold in Delhi at the rate of Rs 68.23 per litre, in Kolkata at Rs 70.84 per litre, in Mumbai at Rs 72.44 per litre, and in Chennai at Rs 72.06 per litre.

On Thursday, petrol and diesel prices were slashed only in Delhi among the four metro cities.

Petrol prices were reduced by 16 paise in Delhi, 12 paise in Kolkata, 16 paise Mumbai, and 17 paise in Chennai, as compared to Thursday's rates.

Diesel prices were reduced by 12 paise in Delhi, 10 paise in Kolkata, 12 paise in Mumbai, and 13 paise in Chennai, as compared to Thursday's rates.

Global crude oil prices

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, reported news agency Reuters.

Brent oil rose 7 cents to $72.65 a barrel by 0354 GMT, after rising to $73.04 earlier in the day. US West Texas Intermediate (WTI) was up 14 cents at $69.60 a barrel, after reaching a high of $70.03 earlier.

However, both benchmarks are on track for their third weekly loss, after big declines on Monday, with Brent set to drop 3.6 percent and WTI to fall by 2 per cent.