Petrol, Diesel Prices Hiked For Third Straight Day: Check Fuel Rates Here
Oil Marketing Companies (OMCs) raised the prices of petrol and diesel across the nation for the third straight day on Saturday. According to the rate chart of IOC (Indian Oil Corporation), petrol is now being sold at Rs.76.70 per litre in Delhi and Rs. 84.14 per litre in Mumbai. Petrol prices in Kolkata and Chennai are at Rs. 79.62 per litre and Rs. 79.68 per litre respectively. Diesel can be purchased today at Rs. 68.20 per litre in Delhi. Diesel prices stand at Rs. 72.40 per litre in Mumbai, Rs. 70.98 per litre in Kolkata and Rs. 72.03 per litre in Chennai, as stated by IOC, the nation's largest fuel retailer.Â
The above listed rates are applicable from 6 am on August 4, 2018. State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices with effect from 6 am on a daily basis. Government allowed revision of fuel rates on a daily basis since mid-June last year to reflect changes in costs instantly.Â
On Friday, petrol was sold at the rate of Rs. 76.50 per litre in Delhi, Rs. 79.42 per litre in Kolkata, Rs. 83.94 per litre in Mumbai, and Rs. 79.48 per litre in Chennai. Diesel was sold at the rate of Rs. 68.02 per litre in Delhi, Rs. 70.80 per litre in Kolkata, Rs. 72.21 per litre in Mumbai, and Rs. 71.86 per litre in Chennai.
On global front, oil prices went down on Friday amid rising supplies from countries including Russia and Saudi Arabia. Russia and key OPEC (Organization of the Petroleum Exporting Countries) members such as Saudi Arabia and Kuwait have all increased production recently, trying to help compensate for a potential decline in Iranian crude supplies once planned US sanctions take effect later this year, news agency IANS reported.
China's proposed tariffs on US liquefied natural gas and crudeoil exports opens a new front in the trade war between the two countries, at a time when the White House is trumpeting growing US energy export prowess.
China included LNG for the first time in its list of proposed tariffs on Friday, the same day that its biggest US crude oil buyer, Sinopec, suspended U.S. crude oil imports due to the dispute, according to a Reuters report.
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