For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Diesel Prices Hiked For The First Time In 2 Months; Petrol Prices Also Raised

|

On Monday, Indian cities see the first hike in diesel prices since 16 October. Fuel prices were increased by the country's oil marketing companies amid climbing international crude oil prices.

Petrol prices per litre were revised higher to Rs 70.53 in New Delhi, Rs 76.15 in Mumbai, Rs 72.62 in Kolkata and Rs 73.19 in Chennai. Diesel prices per litre rose to Rs 64.47 in New Delhi, Rs 67.47 in Mumbai, Rs 66.23 in Kolkata and Rs 68.07 in Chennai.

Diesel Prices Hiked For The First Time In 2 Months; Petrol Prices Also Raised
 

On Sunday, petrol prices were largely unchanged and diesel prices were cut by 13 paise to their lowest in the year 2018. Fuel prices have been now eased by 15 to 20 percent from their all-time highs seen at the beginning of October as a result of a two-month downfall in international crude prices amid oversupply concerns.

However, after the OPEC (Organization of Petroleum Exporting Countries) and its allies agreed to cut production by 1.2 million on 6 December, there has been a gain in international oil price benchmark Brent that lingered near the $62 a barrel level. There has been volatility in the price since, due to analyst concerns of slowing economic growth globally, especially in China, the biggest importer of crude oil in the world.

After a momentary loss on Friday, Brent regained on Monday amid reports of a fall in US drilling activity to its lowest in 2 months. This resulted in an increase in fuel prices in India.

Read more about: petrol diesel
Story first published: Monday, December 17, 2018, 11:09 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
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