Petrol, diesel prices today: The oil marketing companies (OMCs) raised the prices of petrol by 12 paise in the national capital today.
Petrol, diesel prices today: The oil marketing companies (OMCs) raised the prices of petrol by 12 paise in the national capital today. Petrol can be availed at Rs 76.97 per litre in Delhi today as against Rs 76.85 per litre yesterday. Diesel can be purchased at 68.44 per litre today in the national capital. In Mumbai, petrol is available at Rs 84.41 per litre in Mumbai today as against Rs 84.29 yesterday. In Kolkata and Chennai, petrol can be availed at Rs 79.89 and 79.96 per litre each today.
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.
Oil prices rose on Monday after Saudi crude production registered a surprising dip in July and as American shale drilling appeared to plateau. Markets also anticipated an announcement from Washington due later on Monday detailing renewed U.S. sanctions against major oil exporter Iran, set to be reinstated at 1201 EDT on Tuesday (1601 GMT), according to a US Treasury official, Reuters reported.
Spot Brent crude oil futures were trading at $73.68 per barrel at 0205 GMT on Monday, up 47 cents, or 0.6 percent, from their last close. US West Texas Intermediate (WTI) crude futures were up 37 cents, or 0.5 percent, at $68.86 barrel, Reuters said.
US energy companies last week cut oil rigs for a second time in the past three weeks as the rate of growth has slowed over the past couple of months.