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Petrol, diesel prices increase across major cities after elections get over

FE Online

The state-run oil marketing companies have hiked the diesel and petrol prices on Monday across Delhi, Mumbai, Kolkata and Chennal. While, petrol prices have been raised by 8-10 paise a litre, diesel prices were increased by 15-16 paise a litre. In the national capital, petrol is selling at Rs 71.12 a litre as against the previous rate Rs 71.03 a litre on Sunday whereas, diesel prices surged to Rs 66.11 a litre from the earlier price of Rs 65.96 a litre on Sunday, according to the Indian Oil Corporation website.

In Mumbai, people need to shell out Rs 76.73 for one litre of petrol and Rs 69.27 for the same quantity of diesel. The petrol and diesel prices have been raised by 9 paise and 16 paise respectively. In Kolkata, the petrol prices have been raised by 8 paise to Rs 73.19 a litre. Yesterday, the petrol was being sold at Rs 73.11 in Kolkata. Diesel prices have also been hiked by 15 paise to 68.01 a litre. Yesterday, it was selling at Rs 67.86 a litre.

In Chennai, petrol is selling at Rs 73.82 a litre, 10 paise higher than yesterday s price of Rs 73.72 a litre. The diesel prices have risen by 16 paise to Rs 69.88 a litre. Yesterday, the diesel was selling at Rs 69.72 a litre.

Today the international crude oil prices surged after Saudi Energy Minister Khalid al-Falih indicated towards a consensus among OPEC and allied oil producers to continue with regulated supplies. While the, International Brent crude futures were last seen at $ 73.14 per barrel, up 0.93 cents, or 1.29 percent, from their last close, the US WTI was at $63.55, up 0.79 cents or 1.26 percent up from the previous close.

The crude oil prices have been under pressure due to trade tensions between US and China. Earlier, the prices edged lower due to demand fears but ended a week higher on rising supply concerns after escalating tensions in the Middle East.