Petrol prices were hike for the sixth straight day on Tuesday across the four metros. In Delhi, one litre of petrol retailed at Rs 77.06, implying a hike of 9 paise from yesterday. In Mumbai, petrol price was seen at Rs 84.50, a hike of 9 paise. In Kolkata petrol prices stood at Rs 80 a hike of 11 paise. In Chennai, petrol prices retailed at Rs 80.07, data sourced from IOC app showed. Yesterday, the oil-marketing companies hiked the petrol and diesel prices. According to Indian Oil Corporation (IOC)’s website, on Monday, a litre of petrol was being sold in New Delhi for Rs 76.97, in Kolkata for Rs 79.89, in Mumbai for Rs 84.41, and in Chennai for Rs 79.96.
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Oil prices rose on Tuesday ahead of the introduction of U.S. sanctions against major crude exporter Iran. Spot Brent crude oil futures were at $73.88 per barrel at 0241 GMT on Tuesday, up 13 cents, or 0.2 percent, from their last close, Reuters reported.
U.S. West Texas Intermediate (WTI) crude futures were up 1 cent at $69.02 barrel. U.S. sanctions against Iran, which shipped out almost 3 million barrels per day (bpd) of crude in July, are set to begin at 12:01 a.m. U.S. Eastern time (0401 GMT) on Tuesday. “The U.S. seems hell-bent on regime change in Iran,” Greg McKenna, chief market strategist at futures brokerage AxiTrader told the agency.