Petrol & Diesel Prices of Oil marketing companies (OMCs) slashed on Saturday. According to the rate chart of IOC (Indian Oil Corporation), petrol is being sold at Rs. 76.16 per litre in Delhi and Rs. 83.61 per litre in Mumbai.
Petrol prices in Kolkata and Chennai are at Rs. 79.05 per litre and Rs. 79.11 per litre respectively. Diesel can be purchased at Rs. 67.62 per litre in Delhi.
Diesel prices stand at Rs. 71.79 per litre in Mumbai, Rs. 70.37 per litre in Kolkata and Rs. 71.41 per litre in Chennai, stated IOC, the nation’s largest fuel retailer. Petrol prices, were kept unchanged across the four cities on Friday whereas, diesel prices were reduced.
The above listed rates are applicable from 6 am. State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices with effect from 6 am on a daily basis.
Government allowed revision of fuel rates on a daily basis since mid-June last year to reflect changes in costs instantly.
Globally, oil prices fell on Friday, weighed down by a drop in the US equities market, but Brent still marked a weekly increase, supported by easing trade tensions and a temporary shutdown by Saudi Arabia of a key crude oil shipping lane, reported .
Brent crude futures fell 25 cents to settle at $74.29 a barrel, but notched a 1.8 per cent weekly increase, its first increase in four weeks.
US West Texas Intermediate (WTI) crude futures fell 92 cents to settle at $68.69 a barrel, and marked a fourth week of declines, falling about 2.4 per cent.>