Petrol prices hiked for sixth day in a row
Oil marketing companies have increased petrol prices for the sixth day straight across all metros on Tuesday. Diesel rates were left unchanged at existing levels.
With today's hike, petrol prices have been raised nine times in the past ten days. In Delhi, Kolkata, and Bengaluru, petrol rates have been hiked by 11 paise, while the prices rose by 9 paise in Chennai, according to notifications from the state-run Indian Oil Corporation.
In Delhi, the price of petrol was revised to Rs 81.73 from Rs 81.62 per litre, while diesel prices were kept steady at Rs 73.56 per litre.
Since August 16, OMCs have raised petrol prices across metros, barring August 19. Petrol prices have increased by Rs 1.3 in Delhi, and Rs 1.2 in Mumbai, in the last 10 days.
In Mumbai, petrol is retailing at Rs 88.39 per litre, while in Chennai it is priced at Rs 84.73/litre. The rates for a litre of petrol in Kolkata, Hyderabad, Bengaluru are Rs 83.24, Rs 84.94 and Rs 84.39.
Diesel prices have remained unchanged for almost a month. Diesel is priced at Rs 73.56 per litre in Delhi and Rs 80.11 per litre in Mumbai.
Oil prices rose on Monday as storms headed for the Gulf of Mexico shut more than half of the region's offshore production, with the more dangerous of the two storms expected to strike later in the week. Crude oil prices were mixed on Tuesday as traders weighed massive production cuts in the US Gulf Coast from Tropical Storms Marco and Laura against rising coronavirus cases in Asia and Europe.