INSUBCONTINENT EXCLUSIVE:
These petrol, diesel rates came into effect from 6 am on Wednesday.Amid a rise in global crude oil prices and a falling rupee - both of
which happened for a second day in a row - petrol and diesel prices were on Wednesday kept unchanged across the four metro cities, according
to Indian Oil Corporation (IOC), the largest fuel retailer of the country
Petrol and diesel rates were the same in Delhi, Kolkata, Mumbai and Chennai as on Tuesday, according to the data from IOC's website iocl.com
These petrol, diesel rates came into effect from 6 am on Wednesday.Petrol and diesel rates are revised every day on the basis of global
crude oil prices and the rate of the rupee against the US dollar
On Tuesday, the rupee dropped by 8 paise to close at 68.94 against the US dollar.Petrol price in metrosOne litre of petrol was being sold in
Delhi for Rs 76.23, in Kolkata for Rs 79.10, in Mumbai for Rs 83.68, and in Chennai for Rs 79.18.(Petrol rates as well as diesel prices were
Kolkata for Rs 70.48, in Mumbai for Rs 71.97, and in Chennai for Rs 71.59.Oil prices rose after industry group data showed US crude
inventories fell more than expected last week, easing worries about oversupply that had dragged on markets in recent sessions, according to
Brent crude was up 29 cents, or 0.4 per cent, at $73.73 a barrel by 6:05 am (0035 GMT)
The global benchmark settled 38 cents higher at $73.44 a barrel on Tuesday, after climbing as high as $74.According to a poll by Reuters,
rising oil prices pose the biggest downside risk to India's economy, which is expected to grow 7.4 per cent in the fiscal year ending in
March 2019 and 7.6 per cent next
But record high costs of diesel and petrol - which are the biggest items on the country's import bill - at a time when the rupee is
weakening and close to a record low has become a major burden, pose a risk to those forecasts, stated the report
