Petrol, diesel prices today: The oil marketing companies (OMCs) on Thursday cut petrol prices by 6 paise after keeping them unchanged yesterday. The diesel rates were also slashed by 12 paise today. However, the petrol rates remained same in other metros. The petrol can be availed at Rs 76.78 in Delhi while a litre of diesel is being sold for Rs 68.35 today, according to the IOC’s website. The prices of petrol in Mumbai and Kolkata are Rs 84.22 and Rs 79.51 respectively.The rate of petrol in Chennai is Rs 79.76 respectively.
A litre of diesel was being sold in Kolkata for Rs 70.94, in Mumbai for Rs 72.56, and in Chennai for Rs 72.19.
On Wednesday, the petrol was available at Rs 76.84 in Delhi. State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices, which come into effect from 6 am on a daily basis. Notably, the government allowed revision of fuel rates on a daily basis since mid-June last year to reflect changes in costs instantly.
Meanwhile, oil prices on Wednesday extended gains from the previous session, buoyed after official data showed that U.S. inventories of gasoline, diesel and heating oil unexpectedly fell last week, Reuters reported.
Brent crude futures had risen 8 cents, or 0.1 percent, to $72.98 by 0043 GMT, Reuters report said. They climbed 1 percent on Wednesday after initially falling to the lowest in three months following the release of official production and stockpile data, which also showed a surprise build in U.S. crude inventories.
West Texas Intermediate (WTI) crude futures climbed 20 cents, or 0.3 percent, to $68.96, Reuters reported. They also gained about 1 percent on Wednesday. Gasoline inventories fell by 3.2 million barrels last week, while distillate stockpiles, which include diesel and heating oil, dropped by 371,000 barrels, the Energy Information Administration (EIA) said on Wednesday.