Petrol and diesel prices were both unchanged in four metro cities applicable from 6:00 a.m. on 17th July 2018. Last month, members of the Organisation of the Petroleum Exporting Countries (OPEC), agreed to jointly increase oil production, which was estimated to be about one million barrels a day.
Petrol and diesel prices were slashed with effect from 6 am on Monday, according to the website of Indian Oil Corporation (IOC), the largest fuel retailer in the country. One litre of petrol was being sold in New Delhi for Rs. 76.84, in Kolkata for Rs. 79.51, in Mumbai for Rs. 84.22, and in Chennai for Rs. 79.77.
Consumers may have to burn a larger hole in their pockets to keep their vehicles running as retail prices of petrol and diesel are set to hit all-time high levels all over again soon.
Petrol prices have been rising since July 5, and today in Mumbai it crossed the Rs 84 per litre mark selling at Rs 84.14 a litre. The price of petrol jumped up by 17 paise from Rs 83.97 on Thursday, according to data put out on the website of Indian Oil Corporation. In other metro cities prices have risen as well with Delhi,
Petrol, diesel prices were hiked for the second straight day on Friday despite a fall in the global crude prices over last few days and rupee’s appreciation against the dollar.
The prices of petrol and diesel were raised by the state-run oil marketing companies (OMCs) on Thursday. According to the rate chart, petrol can be purchased for Rs. 76.59 per litre in Delhi.
In an effort to incentivise electric vehicle buyers through cross subsidies, the government is considering a proposal to impose a marginally higher tax on conventional petrol and diesel cars.
Petrol price per litre was up by an average of 17 paise to Rs 76.53 in Delhi, Rs 83.91 in Mumbai, Rs 79.20 in Kolkata and Rs 79.43 in Chennai. Diesel price per litre, on the other hand, was increased by 16 paise on an average to Rs 68.23 in Delhi, Rs 72.40 in Mumbai, Rs 70.78 in Kolkata and Rs 72.03 in Chennai.
Petrol prices on Tuesday witnessed a hike for the sixth consecutive day in all four metro cities, as per the data provided by the official website of Indian Oil Corporation (IOC) Limited. Following suit, diesel prices have also ramped up consistently in the last six days.
Oil Marketing Companies (OMCs) raised petrol and diesel prices across the country for the fifth straight day on Monday in line with the rise in global crude oil prices.