Petrol price cut for 4th day in row; Mumbai, Chennai see major relief, check rates here
From May 30, the OMCs are cutting petrol prices despite Brent crude hovering near $75 per barrel.
The state-owned Oil Companies decided to cut petrol price for the fourth consecutive day in various state capitals of India. Today, petrol price was brought down in the range of 14 paisa to 17 paisa per litre with Mumbai seeing major relief. Current cut in petrol price is much higher compared to previous day revision where the product was trim down in the range 9 paisa to 13 paisa per litre. This was despite international crude oil prices surging this week as investors were closely watching the Organization of the Petroleum Exporting Countries (OPEC) meeting. State elections are expected to take place in Chhattisgarh, Madhya Pradesh and Rajasthan in late 2018, calling for major urgency in relaxing petrol prices to save the NDA government from facing the repeat of the Karnataka scenario.
Today in Delhi, 1 litre petrol is priced at Rs 75.79 down by 14 paisa compared to previous day price of Rs 75.93 per litre.
Similarly, Kolkata is charging Rs 78.47 per litre for a litre petrol which was also below 14 paisa as against previous day price of Rs 78.61 per litre.
Mumbai and Chennai saw most cut in their petrol prices compared to Delhi and Kolkata.
In Chennai city, 1 litre of petrol was priced at Rs 78.65 per litre lower by 15 paisa as against previous day price of Rs 78.80 per litre.
India’s financial hub Mumbai saw major relief in petrol price compared to above mentioned metro cities, as 1 litre petrol was priced at Rs 83.44 today lower by 17 paisa compared to Rs 83.61 per litre of previous day. The city was selling petrol over Rs 86 per litre last month.
A litre petrol priced at Rs 77.02 in Bangalore, Rs 81.38 in Bhopal, Rs 74.62 in Bhubaneswar, Rs 72.89 in Chandigarh, Rs 77.26 in Dehradun, Rs 80.28 in Hyderabad, Rs 78.52 in Jaipur, Rs 76.74 in Lucknow, Rs 81.28 in Patna, Rs 76.21 in Raipur and Rs 80.23 in Srinagar.
Moreover, the US West Texas Intermediate for August delivery on Friday rose $3.04 to settle at $68.58 dollars a barrel on the New York Mercantile Exchange, while Brent crude for August delivery was up $2.50 to close at $75.55 a barrel on the London ICE Futures Exchange, Xinhua.