New Delhi: Petrol prices were reduced by 7 paise and diesel prices by 9 paise in Delhi applicable from 6:00 a.m. on 23rd July 2018.
Petrol prices were changed in Kolkata, Mumbai and Chennai by 5,7 and 8 paise respectively while diesel prices were reduced by 7, 10 and 9 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 fell on Monday because of increasing concerns about fuel demand after finance ministers and central bank governors from the G20 warned that global economic growth risks have increased amid rising trade and geopolitical tensions. Brent crude dropped 18 cents, or 0.3 percent, to $72.89 a barrel by 0329 GMT US West Texas Intermediate (WTI) futures declined 13 cents, or 0.2 percent, to $68.13 a barrel, according to a report by news agency Reuters.
Prices of non-branded petrol in metro-cities
| Cities | (Rs/litre) |
| New Delhi | 76.30 |
| Kolkata | 79.15 |
| Mumbai | 83.75 |
| Chennai | 79.25 |
Prices of non-branded diesel in metro-cities
| Cities | (Rs/litre) |
| New Delhi | 67.89 |
| Kolkata | 70.56 |
| Mumbai | 72.07 |
| Chennai | 71.70 |
(Source: Indian Oil) Prices may vary from outlet to outlet within a city
