The oil marketing companies cut the petrol prices by 16 paise in the national capital on Friday after slashing the prices by 6 paise on Thursday. The petrol is available at Rs 76.62 per litre today, according to the IOC’s website. The prices of petrol in Mumbai and Kolkata were Rs 84.06 and Rs 79.39 respectively.The rate of petrol in Chennai was Rs 79.59 respectively. Today, diesel was being sold in the national capital at the rate of Rs. 68.23 per litre, in Kolkata at Rs. 70.84 per litre, in Mumbai at Rs. 72.44 per litre, and in Chennai at Rs. 72.06 per litre.
On Thursday, the petrol was available at Rs 76.78 in Delhi. The prices of petrol in Mumbai and Kolkata were Rs 84.22 and Rs 79.51 respectively yesterday.The rate of petrol in Chennai was Rs 79.76 respectively.
Oil prices gained on Friday after Saudi Arabia’s OPEC governor said the kingdom’s exports are likely to fall next month and inventories may be squeezed in the third quarter, Reuters reported. Brent oil rose 22 cents, or 0.3 percent, to $72.80 by 0034 GMT, after falling 32 cents on Thursday.
US West Texas Intermediate was up 51 cents, or 0.7 percent, at $69.97, extending a 1 percent gain in the previous session, Reuters reported.
However, both benchmarks are on track for a third weekly loss, after big falls early in the week.
Prices have been dragged down by concerns about oversupply as some production returned after outages, while trade tensions stoked fears of damage to economies and commodities.
Saudi Arabia moved on Thursday to allay fears of oversupply. The world’s biggest oil exporter expects its crude shipments to drop by roughly 100,000 barrels per day in August as it works to ensure it does not push oil into the market beyond customers’ needs, the kingdom’s OPEC governor Adeeb Al-Aama said.