For Quick Alerts
For Daily Alerts

Petrol and Diesel Prices Hiked for the Second Consecutive Day


Fuel prices in the country were raised for the second straight day on Tuesday despite the fall in international crude oil prices.

Petrol rate per litre was increased by 6 paise to Rs 76.31 in Delhi, Rs 79.20 in Kolkata, Rs 83.76 in Mumbai and Rs 79.26 in Chennai, according to the Indian Oil Corporation's (IOC) official website. Diesel prices were raised by 7 paise per litre to Rs 67.82 in Delhi, Rs 70.58 in Kolkata, Rs 72 in Mumbai and Rs 71.62 in Chennai.

Petrol and Diesel Prices Hiked for the Second Consecutive Day

On Monday, the petrol price was raised by 9 paise and diesel per litre was priced 14 paise higher than the previous day in the four Indian metro cities.

On the global front, Brent crude futures fell by 46 cents (0.6 percent) to $74.51 a barrel. On Monday, it experienced a nearly 1 percent rise. The price fell on concerns of oversupply after an OPEC (Organisation of Petroleum Exporting Countries) survey report by Reuters showed that its output for the month of July was the highest in 2018. OPEC has hiked its production by 70,000 barrels a day to 32.64 million barrels. The group is, however, set to reduce the output going forward, that was raised to offset losses from the export cut of its member nation Iran, due to US sanctions.

Considering the whole month, the international benchmark for crude oil, Brent, experienced a 6.2 percent drop. The fall in price is its highest since July 2016.

Read more about: petrol diesel
Story first published: Tuesday, July 31, 2018, 12:05 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more