Petrol, diesel prices: The prices of petrol and diesel were increased by the state-run oil marketing companies (OMCs) on Tuesday. It is the sixth hike ina row in petrol and diesel prices. In Delhi, petrol can be purchased for Rs 76.53 per litre in Delhi. According to the state-run IOCL mobile app, the petrol is available in Mumbai, Kolkata and Chennai for Rs 83.91, Rs 79.20, and Rs 79.43, respectively. The prices of diesel in Delhi today is Rs 68.23 per litre. In Mumbai, Kolkata and Chennai, diesel is available at Rs 72.40, Rs 70.78 and Rs 72.03 per litre, respectively on Monday.
On Monday, one litre of petrol was priced at Rs 76.36 in New Delhi, Rs 83.75 in Mumbai, Rs 79.03 in Kolkata and Rs 79.25 in Chennai. Diesel was priced at Rs 68.07 in New Delhi, Rs 72.23 in Mumbai, Rs 70.62 in Kolkata, and Rs 71.85 in Chennai.
The government-run oil marketing companies such as Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices with effect from 6 am every day.
The three state-owned fuel retailers, IOC, Bharat Petroleum Corp. Ltd and Hindustan Petroleum Corp Ltd had not revised petrol and diesel prices since 26 June before the first hike on last Thursday.
While the OPEC in the previous month decided to hike production, the US is putting pressure on India, China, and other purchasers of oil to terminate all imports of Iranian oil by a November 4 deadline. It is being done in a bid to choke the Persian Gulf state’s economic lifeline with sanctions over its nuclear programme.
Iran produces around 2.3 to 2.5 million barrels per day and the world searching for alternates to replace those volumes has put pressure on the prices.