The state-run oil marketing companies have raised the diesel and petrol prices on Tuesday across Delhi, Mumbai, Kolkata and Chennai.
The state-run oil marketing companies have raised the diesel and petrol prices on Tuesday across Delhi, Mumbai, Kolkata and Chennai. While, petrol prices have been hiked by 9 paise a litre, diesel prices were increased by 5 paise a litre. In the national capital, petrol is selling at Rs 71.86 a litre as against the previous rate Rs 71.77 a litre on Monday, whereas, diesel prices surged to Rs 66.69 a litre from the previous price of Rs 66.64 a litre, according to the Indian Oil Corporation website.
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In Mumbai, people need to shell out Rs 77.47 for one litre of petrol, 5 paise more than the previous rate of Rs 77.42 a litre, while for diesel, they need to spend Rs 69.88 a litre, 5 paise more than the last price of Rs 69.83 a litre. In Kolkata, the petrol prices have been raised by 9 paise to Rs 73.92 a litre. Yesterday, the petrol was being sold at Rs 73.83 in Kolkata. Diesel prices have also been hiked by 16 paise to 68.40 a litre. Yesterday, it was selling at Rs 68.35 a litre.
In Chennai, petrol is selling at Rs 74.59 a litre, 9 paise higher than yesterday’s price of Rs 74.50 a litre. The diesel prices have risen by 5 paise to Rs 70.50 a litre. Yesterday, diesel was selling at Rs 70.45 a litre.
India imports 80 percent of its oil needs and it is the third largest importer of Iranian oil. The crude oil prices rose on Tuesday amid supply cuts by OPEC club and US sanctions on Iran and Venezuela fuel exports. While the Brent crude was last seen at $70.02 per barrel, 9 cents or 13 per cent lower than the previous close, the US WTI was up 46 cents at $59.09.49 from the last close. WTI did not trade on Monday on account of a public holiday in the US.