Petrol, diesel prices increased for the sixth consecutive day. Check today’s rates in top cities
New Delhi: Petrol prices were increased by 4-8 paise for the sixth successive day across major cities of the country on Tuesday (July 2). Diesel prices, on the other hand, were raised by 4-7 paise. In Delhi, after today’s rate revision, petrol prices rose to Rs 70.51 a litre as against Rs 70.44 on Tuesday while diesel price climbed to Rs 64.33 per litre as compared to Rs 64.27 on Monday, as per data from Indian Oil Corporation website.
Citizens in Mumbai have to pay Rs 76.15 for a litre of petrol after a 4 paise hike over Monday’s rate. A litre of diesel costs Rs 67.40 per litre, 4 paise higher than yesterday’s rate of Rs 67.36 a litre.
In Chennai, the retail price of petrol price was increased by 4 paise to Rs 73.19, from Rs 73.15 recorded on Monday. Diesel costs Rs 67.96 a litre, no change compared with yesterday’s price. In Kolkata, petrol is retailing at Rs 72.75, 8 paise increase from Monday’s rate of Rs 72.67 while diesel price climbed to Rs 66.23, 7 paise more than yesterday’s price of Rs 66.16 a litre.
Petrol in Gurgram sells for Rs 70.88 a litre and diesel is priced at Rs 63.79 per litre. In Noida, petrol price went up by 3 paise to Rs 70.35 a litre while diesel became dearer by 3 paise than yesterday’s price of Rs 63.67 a litre.
As per the country’s daily pricing mechanism, the pump price of petrol and diesel is dependent on the global crude prices and the rupee-US dollar exchange rate as India imports 80 per cent of its crude requirements.
In the international oil market, crude prices dropped on Tuesday amid concerns that a weakening global economy would slow down for the commodity outweighed OPEC’s policy to extend supply reductions until March 2010. International Brent crude oil futures were trading at USD 64.91 per barrel, down 15 cents or, 0.2 per cent, from their last close.
Brent crude — the global benchmark — has risen over 5 per cent since the start of 2019. Last month, Petroleum & Natural Gas Minister Dharmendra Pradhan discussed the rising crude issue with Saudi Oil Minister Khalid Al Falih.“Expressed concern on the developments in the Strait of Hormuz leading to rising crude oil price. Reiterated the sensitivity of Indian consumers to prevailing oil price volatility. Sought active role of #SaudiArabia within OPEC & OPEC Plus for keeping oil prices at reasonable levels,” he had tweeted.
