For the third straight day, the petrol price was hiked in the country by 19 to 20 paise per litre. Rates per litre were revised to Rs 76.95 in Delhi, Rs 79.61 in Kolkata, Rs 84.33 in Mumbai and Rs 79.87 in Chennai. Diesel across the Indian metro cities was also revised higher to Rs 68.91 in Delhi, Rs 72.80 in Mumbai, Rs 71.16 in Kolkata and Rs 72.43 in Chennai.
These rates are as per the information on IOC's app. The Indian Oil Corporation (IOC) and other state-owned oil marketers revise fuel prices on a daily basis based on international crude oil prices.
International benchmark Brent was up by 1.5 percent or $1.11 at $75.56 a barrel after increased global supply concerns. On Friday, global prices were eased after Libyan ports reopened and on expectations that Iran will still export oil despite the US sanctions.
However, the prices were pushed again from strike actions that hit Norway and Iraq supplies this week. On Tuesday, hundreds of Norwegian offshore oil and gas rig workers were on strike over the rejection of a proposed wage deal. While in Iraq, protests were conducted demanding jobs and better facilities from Iraq's leaders and closed the access Umm Qasr commodities port in Basra, a Reuters report stated.
Back in India, the Supreme Court (SC) on Friday during the hearing of a petition asked the central government if petrol and diesel could be priced equally for four wheelers and private cars after the Environment Pollution Control Authority (EPCA) said pollution from diesel vehicles was a cause of concern, according to a PTI report. Various arguments were made against the idea by the government in the court hearing the petition which has raised the issue of air pollution in the Delhi-NCR. The bench said that it would hear further arguments in the matter on July 23.