Petrol price in India today up by 10 paisa; Metro cities crack to new highs, check rates here
Petrol price in India today: The OMCs 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.
Representational Image: Photo: Pixabay
Updated: Mon, Apr 23, 2018
Mumbai, ZeeBiz WebDesk
Petrol price in India today: There is no stopping the rise in petrol prices in India, as the state-owned oil companies today increased the rates of the product by 10 paisa per litre in various state capitals. The government has reportedly asked OMCs to stop raising fuel prices and also to absorb Re 1 per litre hike in the product. Meanwhile, international crude oil prices dipped as rising US rig count pointed to further increase in the country`s output, underlining one of only a few factors holding back crude markets in an otherwise bullish environment.
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 74.50 per litre, higher by 10 paisa compared to previous day price of Rs 74.40 per litre. The petrol price in New Delhi is at six-year high.
Petrol price in Kolkata today: While in Kolkata, petrol price is at Rs 77.20 per litre, which is also up by 10 paisa as against the previous day prices of Rs 77.10 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 Monday was the same, as the price stood at Rs 82.35 per litre, above 10 paisa in comparison with the previous day prices of Rs 82.25 per litre. Near Rs 82 per litre-mark here was last seen in March 2014.
Petrol price in Chennai today: The petrol price here was also raised by 10 paisa and was valued at Rs 77.29 per litre versus previous day prices of Rs 77.19 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 75.68 per litre, in Bhopal at Rs 80.05 per litre, Bhubaneswar at Rs 73.34 per litre, Chandigarh at Rs 71.64 per litre, Dehradun at Rs 76.23 per litre, Gandhinagar at Rs 73.81 per litre, Hyderabad at Rs 78.90 per litre, Jaipur at Rs 77.19 per litre, Lucknow at Rs 75.73 per litre, Patna at Rs 80.00 per litre, Raipur at Rs 74.94 per litre and Srinagar at Rs 78.87 per litre.
Moreover, Brent crude oil futures were at $73.89 per barrel at 0056 GMT, down 17 cents, or 0.2 percent, from their last close. US West Texas Intermediate (WTI) crude futures were down 21 cents, or 0.3 percent, at $68.19 a barrel.
According to Reuters report, US drillers added five oil rigs drilling for new production in the week ending April 20, bringing the total count to 820, the highest since March, 2015, according to General Electric`s Baker Hughes energy services firm.
"The rising rig count points to further increases in U.S. crude production, which has already climbed by a quarter since mid-2016 to a record 10.54 million barrels per day (bpd)," the report added.