Petrol Prices Fall, Diesel Remains Steady

Price per litre of petrol sees another cut after a two-day pause. Rates per litre were lowered by 8 paise on Friday to Rs 76.35 in Delhi, Rs 79.02 in Kolkata, Rs 84.18 in Mumbai and Rs 79.24 in Chennai.

Diesel prices remained steady at Rs 67.85 in Delhi, Rs 70.4 in Kolkata, Rs 72.24 in Mumbai and Rs 71.62 in Chennai.

Petrol price per litre has been reduced by Rs 2 in the month of June so far in the national capital while diesel was down by Rs 1.4.

Meanwhile, international crude oil benchmark Brent was down by 3 cents to $75.91 a barrel and WTI was up by 6 cents to $66.95 per barrel on Friday morning.

The OPEC (Organization of Petroleum Exporting Countries) meeting on June 22-23 in Vienna will tell if the members will make a pact to increase the production to curb the shortage in supply that pushed crude oil prices to $80 per barrel.

Member nation Venezuela is reportedly short of one month's supply to its customers. Its production is now reduced to 1.5 million barrels a day from 2.9 million in 2014 (when the pact was made).