Petrol price in India today up 23-24p; Pay over Rs 81 per litre in Mumbai, check other cities
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: The Indian petrol prices continued to rise on Friday, as the product rose in the range of 23 paisa to 24 paisa per litre in various state capitals. The state-owned Oil Companies have started to hike petrol prices since last week, as global crude prices edges up. It is being known that, internation crude oil continued its march higher, with Benchmark Brent crude up 1%, advancing its gains for the quarter and sidestepping data the day prior showing a surprise build in U.S. crude stockpiles.
With this, many cities of India have witnessed massive hike, especially Chennai. 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 73.31 per litre, higher by 23 paisa compared to Rs 73.08 per litre of previous day.
Petrol price in Kolkata today: While Kolkata saw hike of 23 paisa in petrol prices to Rs 76.03 per litre as against previous day price of Rs 75.80 per litre.
Petrol price in Mumbai today: Petrol has remained four-year high in this city since start of 2018, and Friday was the same, as the price stood at Rs 81.17 per litre up by 23 paisa as against Rs 80.94 per litre in previous day.
Petrol price in Chennai today: Unlike above mentioned three cities, Chennai saw higher increase in its petrol prices by 24 paisa and was valued at Rs 76.04 per litre versus previous day price of Rs 75.80 per litre.
Petrol price in other state capitals today: Petrol prices in Bengaluru stood at Rs 74.47 per litre, in Bhopal at Rs 78.84 per litre, Bhubaneswar at Rs 72.15 per litre, Chandigarh at Rs 70.50 per litre, Dehradun at Rs 75.29 per litre, Gandhinagar at Rs 72.64 per litre, Hyderabad at Rs 77.63 per litre, Jaipur at Rs 76.01 per litre, Lucknow at Rs 74.79 per litre, Patna at Rs 78.82 per litre, Raipur at Rs 73.77 per litre and Srinagar at Rs 77.72 per litre.
Moreover, prices for the more actively traded June Brent crude futures were up 58 cents to settle at $69.34, while the May contract expiring on Thursday was up 74 cents at $70.27. West Texas Intermediate (WTI) crude futures gained 56 cents to settle at $64.94.
According to Reuters report, WTI`s discount to Brent has grown to more than $5 a barrel, the biggest since January, making Brent-linked crudes less attractive to refiners.
It added, oil has risen about 4 percent since January, on track for the longest stretch of quarterly gains since late 2010.