Petrol prices were hiked by 12 paise in Delhi to Rs 76.43 on Thursday. The hike comes after the oil marketing companies (OMCs) kept the prices of petrol and diesel unchanged on Wednesday across four metros of the country. In other cities to petrol prices were hiked by 11- 15 paise. One litre of petrol retailed at Rs 76.43 in Delhi as compared to Rs 76.31 yesterday, implying a hike of 12 paise.
In Mumbai, petrol price was hiked by 11 paise to Rs 83.87. Petrol prices in Kolkata and Chennai are at Rs 79.33 per litre and Rs. 79.41 per litre, implying a hike of 13 and 15 paise respectively. The above listed rates are applicable from 6 am from today. State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices on a daily basis.
Oil prices rose on Thursday, steadying after losses over the past two days from a surprise increase in U.S. crude inventories and renewed concerns over trade friction between the U.S. and China. Brent crude futures were up 40 cents, or 0.6 percent, at $72.79 a barrel by 0254 GMT, after dropping 2.5 percent on Wednesday. U.S. West Texas Intermediate (WTI) crude futures increased by 30 cents, or 0.4 percent, to $67.96 a barrel. They fell 1.6 percent in the previous session, Reuters reported.
Yesterday, in it’s bi-monthly policy meet, RBI hiked the key policy rate by 25 basis points to 6.5% on the back of rising inflation on account of MSP hike, GST rate cut, volatility in global financial markets, rising crude oil prices and several other factors. . “The pass-through of global crude oil prices impacted inflation in domestic petroleum products as well as transport services. Inflation also picked up modestly in respect of education and health,” RBI said in its report.