Petrol price in India today remains unchanged; Check rates in metro cities
Petrol price in India today: The state-owned oil companies have limited room to deduct prices of petrol as global crude oil basket continues to edge higher.
Petrol price in India today: As international crude oil tumbles, the state-owned oil companies today, kept the prices of petrol products unchanged in various state capital of India. The state-owned oil companies have limited to deduct prices of petrol, as global crude oil basket continues to edge higher. The international oil markets today eased away from 2014 highs reached in the previous session as escalating Middle East tensions were offset by increasing inventories and production in the United States.
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 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 73.99 per litre, unchanged from the previous day. 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 76.69 per litre, same as against previous day.
Petrol price in Mumbai today: Petrol has remained four-year high in this city since start of 2018, and Wednesday was the same, as the price stood at Rs 81.83 per litre, like previous day prices. 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 on Wednesday, the petrol price was valued at Rs 76.75 per litre, the same in comparison with previous day prices.
Petrol price in other state capitals today: Petrol prices in Bengaluru stood at Rs 75.15 per litre, in Bhopal at Rs 79.52 per litre, Bhubaneswar at Rs 72.82 per litre, Chandigarh at Rs 71.14 per litre, Dehradun at Rs 75.82 per litre, Gandhinagar at Rs 73.30 per litre, Hyderabad at Rs 78.35 per litre, Jaipur at Rs 76.69 per litre, Lucknow at Rs 75.32 per litre, Patna at Rs 79.49 per litre, Raipur at Rs 74.43 per litre and Srinagar at Rs 78.37 per litre.
Moreover, Brent crude futures rose to $70.78 per barrel at 0154 GMT, down 26 cents, or 0.4 percent, from their last close. Brent surged more than 3 percent on Tuesday to hit its highest level since late 2014, at $71.34 a barrel.
Also, US WTI crude futures were at $65.38 a barrel, down 13 cents, or 0.2 percent from their last settlement.
According to Reuters report, markets have been tense on escalating tensions in the Middle East. "Though Syria is not a significant oil producer itself, the wider Middle East is the world`s most important crude exporter and tension in the region tends to put oil markets on edge," it added.