Petrol price in India today up by 6 - 7 paisa: check rates in Delhi, Mumbai, Bengaluru, more
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 price of this fuel product reversed previous decline performance, and surged on Thursday in the range of 6 paisa to 7 paisa each per litre in varioua state capital of India. This followed by uptrend recorded in global crude oil - which were lifted by a surprise draw on U.S. crude inventories as well as ongoing dollar weakness which makes oil cheaper in global markets and potentially spurs demand. 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 in to 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 72.26 per litre on Thursday, up by 6 paisa compared to Rs 72.20 per litre of previous day.
Petrol price in Kolkata today: Similarly, Kolkata also saw hike of 6 paisa in petrol prices to Rs 75per litre as against previous day price of Rs 74.94 per litre.
Petrol price in Mumbai today: Petrol has remained four-year high in this city since start of 2018, and Thursday was no different, as the price of this fuel stood at Rs 80.13 per litre higher by 6 paisa as against Rs 80.07 per litre in previous day.
Petrol price in Chennai today: Unlike above mentioned cities, Chennai saw much higher rate of increase in thier petrol prices by 7 paisa and was valued at Rs 74.94 per litre versus previous day price of Rs 74.87 per litre.
Petrol price in other state capitals today: Petrol prices in Bengaluru stood at Rs 73.40 per litre, in Bhopal at Rs 77.93 per litre, Bhubaneswar at Rs 71.11 per litre, Chandigarh at Rs 69.49 per litre, Dehradun at Rs 74.47 per litre, Gandhinagar at Rs 71.75 per litre, Hyderabad at Rs 76.52 per litre, Jaipur at Rs 75.09 per litre, Lucknow at Rs 73.97 per litre, Patna at Rs 77.78 per litre, Raipur at Rs 72.74 per litre and Srinagar at Rs 76.69 per litre.
U.S. West Texas Intermediate (WTI) crude futures were at $65.39 a barrel at 0021 GMT, up 22 cents, or 0.3 percent, from their previous close. Brent crude futures were at $69.65 per barrel, up 18 cents, or 0.3 percent.
Both benchmarks are hovering just below their highest levels since early February, having risen around 10 percent from March lows, as per Reuters report.
The report added, "Some support for crude futures came from currency markets, where the dollar <.DXY> fell as Federal Reserve officials stuck to their view of three rate increases for 2018, even as they delivered an expected quarter point rate hike."