Pngcrush or optipng or advancecomp
From Notes_Wiki
We can compress png images (especially the once created by using colored scanner) using 'pngcrush', 'optipng' or 'advancecomp' tools.
pngcrush
pngcrush can be used as follows:
mkdir output pngcrush -d output -brute -l 9 -v file1.png file2.png ... filen.png
optipng
optipng can be used as follows:
mkdir output cp file1.png file2.png ... filen.png output cd output optipng -o7 *
advancecomp
advancecomp can be used in following manner:
advpng -z4 file1.png
advancecomp also seems to give best compression and response time in comparison to others.