For Quick Alerts
For Daily Alerts

Petrol and Diesel Prices Cut After a 3-Day Halt


Fuel prices in the country were lowered on Saturday after a three-day pause in price revision. Petrol price per litre in the metro cities were slashed to Rs 76.16 in Delhi, Rs 83.61 in Mumbai, Rs 79.05 in Kolkata and Rs 79.11 in Chennai. Diesel, on the other hand, was revised to Rs 67.62 in Delhi, Rs 71.79 in Mumbai, Rs 70.37 in Kolkata and Rs 71.41 in Chennai.

Petrol and Diesel Prices Cut After a 3-Day Halt

The rates are revised on a daily basis in cities across India based on international prices. These are set by Indian state-owned oil marketers like Indian Oil, Bharat Petroleum, and Hindustan Petroleum. On Friday, diesel prices were cut, however, petrol rates remained unchanged.

International benchmark Brent futures were trading lower by 25 cents to $74.29 a barrel. This was largely due to the discouragement among investors from the fall in US stock markets on Friday, easing trade tensions between the US and the European Union and a temporary shutdown of one of Saudi Arabia's key shipping routes.

US government data on Friday showed that the country's economy grew the fastest in the second quarter of the year in nearly four years. A stronger economy could translate into higher demand for oil. Meanwhile, the OPEC and its allies including Russia, could increase the combined output of oil by 1 million barrels per day, according to a Reuters report.

Read more about: petrol diesel
Story first published: Saturday, July 28, 2018, 11:39 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more