Petrol price in India today; New Delhi rates rise over Rs 74-mark; Mumbai stays at 4-yr high
Petrol price in India today: The state-owned oil companies 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 India today: On Tuesday, where international oil market rose, the Indian state-owned oil companies kept the price of petrol unchanged in various state capitals of India. The state-owned oil companies have limited room to cut prices of petrol, as global crude oil basket continues to edge higher. Today, global crude oil prices rose on amid worries there could be a high risk of disruptions to supply, especially in the Middle East.
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 was stood at Rs 74.02 per litre unchanged from the previous day price. With the current deduction, the petrol price in New Delhi came below Rs 74-mark, however, it stayed near six-year high.
Petrol price in Kolkata today: While in Kolkata petrol prices stood at Rs 76.73 per litre same as against previous day. 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 81.87 per litre unchanged from previous price. 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, however, just like it's above mentioned cities, the petrol price was valued at Rs 76.79 per litre - same in comparison with previous day.
Petrol price in other state capitals today: Petrol prices in Bangalore stood at Rs 75.19 per litre, in Bhopal at Rs 79.56 per litre, Bhubaneswar at Rs 72.86 per litre, Chandigarh at Rs 71.18 per litre, Dehradun at Rs 75.85 per litre, Gandhinagar at Rs 73.34 per litre, Hyderabad at Rs 78.39 per litre, Jaipur at Rs 76.73 per litre, Lucknow at Rs 75.35 per litre, Patna at Rs 79.53 per litre, Raipur at Rs 74.46 per litre and Srinagar at Rs 78.41 per litre.
Moreover, Brent crude oil futures were at $71.69 per barrel at 0326 GMT, up 27 cents, or 0.4 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were up 32 cents, or 0.5 percent, at $66.54 a barrel.
Traders in a Reuters report said oil markets were receiving general support due to a sense that there were high risks of supply disruptions, including a potentially spreading conflict in the Middle East, renewed U.S. sanctions against Iran and falling output as a result of political and economic crisis in Venezuela.