Petrol prices were increased by 6-7 paise per litre while diesel rates remained unchanged across Delhi, Mumbai, Kolkata and Chennai on Saturday, according to state-run Indian Oil Corporation's official website - iocl.com. Currently, the domestic prices of petrol and diesel vary from state to state, and are reviewed by oil marketing companies such as Indian Oil, Bharat Petroleum and Hindustan Petroleum on a daily basis. The petrol and diesel prices are determined broadly by international crude oil prices and the rupee-dollar foreign exchange (forex) rate.
With effect from 6 am on Saturday, the price of petrol was at Rs 73.08 per litre in Delhi and Rs 78.65 per litre in Mumbai, according to Indian Oil Corporation. Diesel rates were at Rs 66.61 per litre in Delhi and Rs 69.72 per litre in Mumbai.
In Kolkata, the prices of petrol and diesel were at Rs 75.10 per litre and Rs 68.35 per litre respectively. In Chennai, petrol was retailing at Rs. 75.85 per litre and diesel prices stood at Rs 70.34 per litre.
Globally, oil prices fell 3 per cent on Friday after US President Donald Trump again pressured the Organisation of the Petroleum Exporting Countries to raise crude production to ease gasoline prices. Brent crude futures settled at $72.15 a barrel, down $2.20, or 3 per cent. West Texas Intermediate crude ended at $63.30 a barrel, down $1.91, or 2.9 per cent. Brent was flat on the week after rallying for four weeks in a row.
(With inputs from agencies)
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