Petrol price in India today unchanged; Check rates of metro cities
The state-owned oil companies have limited to room to deduct prices of petrol, as global crude oil basket continue to edge higher.
Petrol price in India today: After making continue hike in petrol prices, the state-owned Oil Companies on Wednesday, kept the price of the product unchanged compared to previous day prices in various state capital of India. The state-owned oil companies have limited to room to deduct prices of petrol, as global crude oil basket continue to edge higher. Today, international oil edged up on supported by a recovery in the equities market and on a technical bounce for crude after the biggest daily percentage drop in almost a year, but Brent futures stayed well below $70 a barrel.
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 state's Value Added Tax (VAT) and government's excise duty.
Petrol price in New Delhi today: It was priced at Rs 73.95 per litre same compared to Rs 73.83 per litre of previous day.
Petrol price in Kolkata today: While in Kolkata petrol prices were at Rs 76.66 per litre.
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 81.80 per litre.
Petrol price in Chennai today: This city has been witnessing major hike in past few weeks, and on Wednesday, the petrol prices was valued at Rs 76.72 per litre.
Petrol price in other state capitals today: Petrol prices in Bengaluru stood at Rs 75.12 per litre, in Bhopal at Rs 79.49 per litre, Bhubaneswar at Rs 72.79 per litre, Chandigarh at Rs 71.12 per litre, Dehradun at Rs 75.80 per litre, Gandhinagar at Rs 73.27 per litre, Hyderabad at Rs 78.31 per litre, Jaipur at Rs 76.66 per litre, Lucknow at Rs 75.29 per litre, Patna at Rs 79.46 per litre, Raipur at Rs 74.40 per litre and Srinagar at Rs 78.34 per litre.
Moreover, Brent crude futures gained 48 cents, or 0.7 percent, to settle at $68.12 a barrel. This followed a nearly 4 percent drop in Brent prices on Monday, the largest since June. Brent had risen to $71 a barrel last week, close to its highest this year.
West Texas Intermediate futures rose 50 cents, or 0.8 percent, to settle at $63.51 a barrel.
"There`s not really one catalyst for crude being up today," said John Macaluso, analyst at Tyche Capital Advisors in Reuters report. "The gains were in part the result of a technical rebound from Monday`s losses, as well as a recovery in the equities market," Macaluso added.