Petrol price in India today; Mumbai rate over Rs 82.06 per litre, Chennai at Rs 77 per litre, check other cities
Petrol price in India today; It is being known that the government has asked OMCs to stop raising fuel prices and also to absorb Re 1 per litre hike in the products.
Petrol price in India today: There is no stopping the rise in petrol prices in India, as the state-owned Oil companies on Saturday increased the rates of the product between 13 paisa to 14 paisa in various state capitals. It has been revealed that the government has asked OMCs to stop raising fuel prices and also to absorb Re 1 per litre hike in the product. Meanwhile international crude oil prices edged up on Friday, stabilizing after an earlier slide driven by U.S. President Donald Trump`s criticism of OPEC`s role in pushing up global oil prices.
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 New Delhi today: The petrol price here stood at Rs 74.21 per litre higher by 13 paisa compared to previous day prices of Rs 74.08 per litre. The petrol price in New Delhi is travelling ay six-year high.
Petrol price in Kolkata today: While in Kolkata petrol prices was at Rs 76.91 per litre which was also up by 13 paisa as against previous day prices of Rs 76.78 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 Saturday was the same, as the price stood at Rs 82.06 per litre above 13 paisa in comparison with the previous day prices of Rs 81.93 per litre. Near Rs 82 per litre-mark in Mumbai was last seen in March 2014.
Petrol price in Chennai today: This city has been witnessing major hike in the past few weeks, and unlike above mentioned cities, today the petrol price here was raised by 14 paisa and was valued at Rs 76.99 per litre versus previous day prices of Rs 76.85 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 75.39 per litre, in Bhopal at Rs 79.75 per litre, Bhubaneswar at Rs 73.05 per litre, Chandigarh at Rs 71.37 per litre, Dehradun at Rs 76.00 per litre, Gandhinagar at Rs 73.53 per litre, Hyderabad at Rs 78.59 per litre, Jaipur at Rs 76.89 per litre, Lucknow at Rs 75.50 per litre, Patna at Rs 79.72 per litre, Raipur at Rs 74.65 per litre and Srinagar at Rs 78.59 per litre.
Moreover, Brent crude oil futures gained 28 cents, or 0.4 percent, to settle at $74.06 per barrel. West Texas Intermediate crude futures for delivery in June, the most active U.S. contract, were up 7 cents at $68.40. The May WTI contract, which expired on Friday, gained 9 cents, or 0.1 percent, to settle at $68.38.
Trump tweeted critizing OPEC nations by saying, "Looks like OPEC is at it again." He added, "With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted!"
Since early 2017, the Organization of the Petroleum Exporting Countries and its allies have curbed output in the hopes of eliminating a global oil glut, reported by Reuters.
Prices held up, even under Trump`s comments, said Walter Zimmerman, chief technical analyst at United-ICAP in the report.