Petrol price in Delhi, Mumbai, Chennai, other cities today; no relief for drivers
Petrol price in India today: On Tuesday, the international crude oil prices rebounded from an early slide to finish higher and strengthen further in post-settlement trade, as investors feared U.S. sanctions could dampen Iran's output.
Petrol price in India today: Uptick continues in petrol prices in India, as the state-owned oil companies today increased the rates of the product in the range of 12 paisa to 14 paisa per litre in various state capitals. The government has reportedly asked OMCs to stop raising fuel prices and also to absorb Re 1 per litre hike in the product. Meanwhile, on Tuesday, the international crude oil prices rebounded from an early slide to finish higher and strengthen further in post-settlement trade, as investors feared U.S. sanctions could dampen Iran`s output. The oil companies like Hindustan Petroleum Corp Limited (HPCL), Indian Oil Corp (IOCL) and Bharat Petroleum Corp Limited (BPCL) decide the final retail petrol price by taking into consideration the international crude basket, plus states’ Value Added Tax (VAT) and the government's excise duty.
Petrol price in Delhi today: Petrol price here stood at Rs 74.63 per litre, higher by 13 paisa compared to previous day price of Rs 74.50 per litre. The petrol price in New Delhi is at six-year high.
Petrol price in Kolkata today: While in Kolkata, petrol price is at Rs 77.32 per litre, which is also up by 12 paisa as against the previous day prices of Rs 77.20 per litre. Near Rs 77 per litre mark was last witnessed in May 2012.
Petrol price in Mumbai today: Petrol has remained four-year high in this city since start of 2018, and Tuesday was the same, as the price stood at Rs 82.48 per litre, above 13 paisa in comparison with the previous day prices of Rs 82.35 per litre. Near Rs 82 per litre-mark here was last seen in March 2014.
Petrol price in Chennai today: Unlike above mentioned cities, the petrol price here was raised by much higher rate, as today it was priced at Rs 77.43 paisa above 14 paisa versus previous day prices of Rs 77.29 per litre. The price in Chennai has touched Rs 77 per litre mark which was last seen in May 2012.
Petrol price in other state capitals today: Petrol prices in Bangalore stood at Rs 75.82 per litre, in Bhopal at Rs 80.18 per litre, Bhubaneswar at Rs 73.46 per litre, Chandigarh at Rs 71.77 per litre, Dehradun at Rs 76.33 per litre, Gandhinagar at Rs 73.94 per litre, Hyderabad at Rs 79.04 per litre, Jaipur at Rs 77.32 per litre, Lucknow at Rs 75.83 per litre, Patna at Rs 80.13 per litre, Raipur at Rs 75.06 per litre and Srinagar at Rs 79.00 per litre.
Moreover, Brent crude futures settled up 65 cents, or 0.9 percent, to $74.71 a barrel, after falling as low as $73.13. U.S. West Texas Intermediate crude futures rose 24 cents to $68.64 a barrel, rebounding from a session low of $67.14.
The difference between the two benchmarks was at its widest since January 08, 2018. In post-settlement trading, Brent kept edging higher to $75.08 a barrel.
According to Reuters report, oil prices tumbled early on fears that oversupply could return. Iran`s oil minister Bijan Zanganeh said there would be no need to extend a pact between the Organization of the Petroleum Exporting Countries and non-OPEC producers if oil prices strengthened, the ministry`s official website SHANA reported.