Petrol Price Crosses 91 Rupees/ Litre In Maharashtra Cities
Petrol price surpassed the Rs 91 per litre mark in some cities in Maharashtra on Monday and crossed the crucial Rs 90 mark in Mumbai. While a litre of petrol was sold for Rs 90.08 in Mumbai, rates soared to as much as Rs 91.91 in some districts of Maharashtra, reported news agency Indo-Asian News Service (IANS). The highest petrol prices logged in various Maharashtra cities included Rs 91.61 per litre in Nanded, Rs 91.31 per litre in Amravati, Rs 91.14 per litre in Ratnagiri and Rs 91.01 per litre in Jalgaon, said Federation of Maharashtra Petroleum Dealers Association (FAMPEDA) President Uday Lodh.
Fuel prices rose between 5 paise and 12 paise across the four metro cities, Delhi, Kolkata, Mumbai and Chennai, in line with global oil prices and a weakening rupee. Petrol was sold for Rs 82.72/litre in Delhi, Rs 84.54/litre in Kolkata, and for Rs 85.99/ litre in Chennai, according to Indian Oil Corporation (IOC). A litre of diesel was sold for Rs 78.58 per litre in Mumbai, Rs 74.02 in Delhi, Rs 75.87 in Kolkata and Rs 78.26 in Chennai, according to iocl.com, the website of IOC, the largest fuel retailer of the country.
These petrol, diesel rates came into effect from 6 am on Monday.
On Sunday, a litre of petrol was sold at Rs 82.61 in Delhi, Rs 84.44 in Kolkata, Rs 89.97 in Mumbai and Rs 85.87 in Chennai. A litre of diesel was sold at Rs 73.97 in New Delhi, Rs 75.82 in Kolkata, Rs 78.53 in Mumbai, and Rs 78.20 in Chennai.
The rise in petrol prices was 11 paise each in Delhi and Mumbai, 10 paise in Kolkata and 12 paise in Chennai. The increase in diesel prices was 5 paise each in Delhi, Kolkata and Mumbai and 6 paise in Chennai.
Meanwhile, news agency Reuters, citing sources, reported that the government is considering reducing oil purchases to mitigate the pain of high crude prices and the declining rupee. India is the world's third-biggest oil importer. The country meets more than 80 per cent of its oil requirements through imports.
Globally, oil prices rose as US markets tightened just weeks ahead of Washington's plan to impose new sanctions against Iran, with American bank J.P. Morgan warning of price spikes above $90 per barrel in coming months.
Brent crude futures were at $79.71 per barrel at 0138 GMT or 7:08 am IST, up by 91 cents, or 1.2 per cent. (With inputs from agencies)
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
