New Delhi: Petrol prices were reduced by 7 paise and diesel prices by 10 paise in Delhi applicable from 6:00 a.m. on 24th July 2018.
Petrol prices were changed in Kolkata, Mumbai and Chennai by 5,7 and 7 paise respectively while diesel prices were reduced by 8, 10 and 11 paise in these cities.
Last month, members of the Organisation of the Petroleum Exporting Countries (OPEC), agreed to jointly increase oil production, which was estimated to be about one million barrels a day. The deal, which came after a week of tense negotiation, was reportedly aimed at easing fears of a global supply crunch.
Oil prices extended declines into a second session on Tuesday as attention shifted to the risk of oversupply, with market participants shrugging off escalating tensions between the United States and Iran. Brent crude oil was down 19 cents, or 0.3 percent, at $72.87 a barrel by 0345 GMT, after settling down 1 cent on Monday. U.S. crude was down 21 cents, or 0.3 percent, at $67.68 a barrel. The contract fell 37 cents the previous day., according to a report by news agency Reuters.
Prices of non-branded petrol in metro-cities
| Cities | (Rs/litre) |
| New Delhi | 76.23 |
| Kolkata | 79.10 |
| Mumbai | 83.68 |
| Chennai | 79.18 |
Prices of non-branded diesel in metro-cities
| Cities | (Rs/litre) |
| New Delhi | 67.79 |
| Kolkata | 70.48 |
| Mumbai | 72.97 |
| Chennai | 71.59 |
(Source: Indian Oil) Prices may vary from outlet to outlet within a city
