Petrol Prices Edge Higher, Diesel Rates Fall: Here's All You Need To Know
Petrol prices edged higher by up to 6 paise per litre while diesel rates were cut by up to 11 paise per litre across the four metro cities on Monday, according to state-run Indian Oil Corporation's website -Â iocl.com. Currently, state-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum review petrol and diesel prices on a daily basis, based on the international fuel prices and the value of rupee. Any changes in the rates are implemented at petrol and diesel stations with effect from 6 am.Â
Petrol prices on Monday stood at Rs 72.46 per litre in Delhi, Rs 74.54 per litre in Kolkata, Rs 78.09 per litre in Mumbai and Rs 75.25 per litre in Chennai, according to Indian Oil Corporation.
Diesel prices, on the other hand, declined on Monday. In Delhi, Kolkata, Mumbai and Chennai, diesel prices fell to Rs 67.44, Rs 69.23, Rs 70.65 and Rs 71.27 respectively.
(According to iocl.com)
Earlier on Saturday Petroleum Minister Dharmendra Pradhan conveyed country's concerns over rising crude oil prices and its effects on the domestic fuel rates during his meeting with Saudi Arabia's Minister of Energy, Khalid Al-Falih.
However, domestic fuel prices are likely to remain subdued till the upcoming general elections end, reported news agency IANS (Indo-Asian news service) citing sources.
On the other hand, global oil prices rose on Monday, lifted by comments from Saudi oil minister that an end to OPEC-led supply cuts was unlikely before June and a report showing a fall US drilling activity. Brent crude futures - the international oil benchmark- were at $65.04 per barrel, up 30 cents, or 0.5 per cent.
(With inputs from agencies)
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