Petrol price in India today down; check rates in Delhi, Mumbai, Bengaluru, more
Petrol price in India today: Tracking the global crude oil performance comes as an important factor for calculating final retail prices of petrol in various major state capitals in India.
Petrol price in India today: There was a small cut made in petrol prices in India, by state-owned Oil companies, mostly in line with global crude prices as they recorded negative trend on Monday, as increased drilling in the United States pointed to more output, raising concerns about a return of oversupply. Petrol prices in India have been on mixed bag since the start of 2018, as 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 in to consideration the international crude basket, plus state's Value Added Tax (VAT) and government's excise duty.
Petrol price in New Delhi today: It was priced at Rs 72.19 per litre on Monday, down by 1 paisa compared to Rs 72.20 per litre of previous day.
Petrol price in Kolkata today: Similarly, Kolkata also saw cut of 1 paisa in petrol prices to Rs 75.93 per litre as against previous day price of Rs 75.94 per litre.
Petrol price in Mumbai today: Petrol has remained four-year high in this city since start of 2018, and Monday was no different, as the price of this fuel stood at Rs 80.06 per litre down by 2 paisa as against Rs 80.07 per litre in previous day.
Petrol price in Chennai today: Just like above three mentioned cities, Chennai also saw 1 paisa decline in petrol and was valued at Rs 74.86 per litre versus previous day price of Rs 74.87 per litre.
Petrol price in other state capitals today: Petrol prices in Bengaluru stood at Rs 73.32 per litre, in Bhopal at Rs 77.89 per litre, Bhubaneswar at Rs 71.04 per litre, Chandigarh at Rs 69.43 per litre, Dehradun at Rs 74.41 per litre, Gandhinagar at Rs 71.72 per litre, Hyderabad at Rs 76.44 per litre, Jaipur at Rs 75.06 per litre, Lucknow at Rs 73.91 per litre, Patna at Rs 77.71 per litre, Raipur at Rs 72.67 per litre and Srinagar at Rs 76.62 per litre.
U.S. West Texas Intermediate (WTI) crude futures were at $62.03 a barrel at 0248 GMT, down 31 cents, or 0.5%, from their previous close.
Brent crude futures were at $65.88 per barrel, down 33 cents, or 0.5%.
Monday`s price falls in part reversed increases last Friday, which came on concerns over tensions in the Middle East, as per Reuters report.
"Despite all the bearish U.S. shale supply headlines, oil prices remain firm as ... the odds that the U.S. will pull out of the Iran nuclear agreement continue to run very high," said Stephen Innes, head of trading for Asia-Pacific at futures brokerage OANDA in the report.