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Petrol Prices Cut by 40 Paise, Diesel by 30 paise

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On the eleventh day of fuel price cut across the country, petrol price in Delhi was lowered by 40 paise to Rs 77.02 per litre, while diesel was down by 30 paise to Rs 68.28.

Petrol Prices Cut by 40 Paise, Diesel by 30 paise
 

Petrol prices in other Indian metro cities were lowered in the range of 39-42 paise to Rs 79.68 per litre in Kolkata, Rs 84.84 in Mumbai and Rs 79.95 in Chennai. Diesel prices, on the other hand, was down by 30-32 paise to Rs 70.83 in Kolkata, Rs 72.7 in Mumbai and Rs 72.08 in Chennai.

International crude oil prices fell on Friday after JP Morgan cut its forecast for 2018 by $3 on WTI (West Texas Intermediate) to $62.20 a barrel. Increased oil production in the US and cut in demand from China dragged the commodity further.

Brent futures were trading 87 cents down (11 percent) at $76.45 per barrel, while WTI was down by 21 cents to $65.74 at the end of the session on Friday.

China's customs data for the month of May showed a reduction in crude oil imports as the country's state-owned refineries were entering planned maintenance.

Read more about: petrol diesel
Story first published: Saturday, June 9, 2018, 12:17 [IST]
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