After hiking petrol and diesel prices for six straight days, oil marketing companies (OMCs) on Wednesday kept the fuel prices unchanged across the cities. The petrol price in Delhi today is Rs 76.53 per litre, according to IOCL mobile app. In Chennai and Kolkata, petrol prices are Rs 79.43 per litre and Rs 79.20 per litre respectively. In Mumbai, petrol can be accessed at Rs 83.91 per litre on Wednesday. The diesel prices also remained unchanged today. The price of diesel stands at Rs 68.23 per litre in Delhi. Diesel price in Mumbai is Rs 72.40 per litre. Diesel price in Kolkata is Rs 70.78 per litre and in Chennai, it is Rs 72.03 per litre.
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.