INSUBCONTINENT EXCLUSIVE:
Petrol and diesel price today: Any revisions in rates are effected at fuel stations at 6 am every day
Petrol and diesel prices were kept unchanged on Wednesday
While petrol rates were held steady after 14 days of cuts, diesel prices were at the same levels as the previous day after a gap of nine
Petrol prices were brought down by Rs 2 per litre in Delhi, Rs 1.96 per litre in Kolkata, Rs 1.98 per litre in Mumbai and Rs 2.1 per litre
in Chennai in the past 14 days, according to data from Indian Oil Corporation
Diesel prices were decreased by Rs 1.46 per litre in Delhi and Kolkata each, Rs 1.55 per litre in Mumbai and Rs 1.56 per litre in Chennai
over a period of about nine days.1
With effect from 6 am on Wednesday, petrol prices were at Rs 76.43 a litre in Delhi, Rs 79.1 a litre in Kolkata, Rs 84.26 a litre in Mumbai
and Rs 79.33 a litre in Chennai, according to Indian Oil Corporation
3.7970.2Chennai79.3381.4377.4371.6273.1869.56(Source: iocl.com)2
The series of price cuts - 14 times in case of petrol and 13 in case of diesel - came after 16 days of consecutive hikes in May, a month
marked by international crude oil prices hitting 2014 highs around $80 a barrel and the rupee falling to its weakest level against the US
dollar in the past 18 months.3
From May 14 to May 29, petrol prices were increased by Rs
3.74 a litre in Kolkata, Rs
3.76 per litre in Mumbai and Rs
Diesel prices were hiked by Rs
3.62 a litre in Delhi, Kolkata, Mumbai and Chennai respectively.4
Domestic petrol and diesel prices are determined by global crude oil prices and the rupee-dollar foreign exchange rate, among other
litreAgartala72.2265.99Aizwal72.3465.18Ambala76.5468.36Bangalore77.6769.02Bhopal82.0271.41Bhubhaneswar75.2572.73Chandigarh73.5165.89Dehradun
77.7668.18Gandhinagar75.7472.92Gangtok79.569.6Guwahati78.5770.82Hyderabad80.9673.75Imphal74.5265.92Itanagar72.3365.14Jaipur79.1772.26Jammu78
.1669.02Jullunder81.6467.77Kohima74.9166.22Lucknow77.2568Panjim70.4369.05Patna81.9172.53Pondicherry75.2370.09Port
Blair65.8963.6Raipur76.8473.25Ranchi76.4171.64Shillong75.8367.67Shimla76.667.49Srinagar80.8571.24Trivandrum79.5372.63Silvasa74.3568.67Daman7
4.2868.6(Source: iocl.com)5
In the international market, crude oil prices declined on Wednesday
Brent crude futures, the international benchmark for oil prices, were near $75.50 per barrel
Rising supplies in the US and expectations that voluntary production cuts led by the Organization of the Petroleum Exporting Countries
(OPEC) could be loosened, dragged the crude oil rates lower.6
Wednesday's crude oil prices meant a nearly 6 per cent recovery from last month's highs.7
The rupee weakened by 7 paise to close at 67.49 against the US dollar on Tuesday
Last month, the rupee had touched an 18-month low of 68.42 against the greenback last month.8
Annual consumer inflation rose to a four-month high of 4.87 per cent in May as compared to 4.58 per cent in April, official data showed on
With that, May became the seventh straight month in which retail inflation figures were higher than the RBI's medium-term target of 4 per
Last week, the Reserve Bank of India (RBI) had marginally revised upwards its inflation projection for fiscal year 2019 on strong crude oil
prices in the global market
The central bank had revised CPI inflation forecast for 2018-19 to 4.8-4.9 per cent in first half of the fiscal year and 4.7 per cent in the
Meanwhile, domestic petrol and diesel sales rose to record highs in May, pushing the country's overall fuel consumption for the month higher
year-on-year, separate data showed.(With agency inputs)
