Petrol and diesel prices were kept steady today in top cities, after rates were raised for the sixth day in a row following rising global oil prices. Non-branded petrol today retailed at Rs 72.39 per litre in Delhi, Rs 75.12 in Kolkata, Rs 80.26 in Mumbai and Rs 75.07 in Chennai, according to Indian Oil's website. Non-branded diesel retailed at Rs 62.96 per litre in Delhi, Rs 65.65 in Kolkata, Rs 67.05 in Mumbai and Rs 66.39 in Chennai, according to Indian Oil's website. Petrol and diesel rates are revised with effect from 6 am every day.
Oil marketing companies adopted the daily price revision system from June last year.
|Metros||Non-Branded Petrol Prices (Rs) On 6/3/2018|
|Metros||Non-Branded Diesel Prices (Rs) On 6/3/2018|
Besides global oil price and the rupee-dollar exchange rate, government levies also determine the final prices consumers pay at the pump. In top cities, petrol prices have gone up by close to Rs 2.5 per litre and diesel by nearly Rs 3.5 since the start of this year amid rising global oil prices.
Since January 1, petrol prices in Delhi are up by Rs 2.42 per litre in Delhi, Rs 2.4 in Kolkata, Rs 2.39 in Mumbai and Rs 2.54 in Chennai, according to Indian Oil's website.
Global oil prices fell marginally today, pulled down by weaker stock markets after a key advocate for free trade in the U.S. government resigned, stoking concerns Washington will go ahead with import tariffs and risk a trade war. Soaring US crude oil production and rising inventories also dragged on crude prices, traders said.
Gary Cohn, economic adviser to US President Donald Trump, seen as a bulwark against protectionist forces within the government, said on Tuesday he was resigning, triggering a more than 1 per cent fall in S&P 500 futures in early Wednesday trade.Crude oil followed suit, with Brent futures down 51 cents, or 0.8 percent, from their previous close at $65.28 per barrel. (With Agency Inputs)
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