Diesel prices hiked across metro cities, petrol closer to Rs 88 in Mumbai

Petrol prices were not increased across the metro cities but diesel prices were up by 26 paise on Thursday. Petrol, however, is already above Rs 82 mark in Delhi and has crossed Rs 85 in Mumbai. Petrol and diesel prices were cut by a minimum Rs 2.50 on October 5 when the government’s cut in excise duty of Rs 1.50 per litre and state-owned fuel retailers providing a Re 1 per litre subsidy came into effect. In BJP-ruled states, the reduction was higher as they matched the cut with a similar reduction in local sales tax or VAT. But still, the prices are on the rise ever since. Here are the petrol and diesel prices in metro cities on Wednesday as per the Indian Oil’s daily pricing formula.

Diesel prices hiked across metro cities, petrol closer to Rs 88 in Mumbai

  • Delhi: Petrol Rs 82.26 per litre; diesel Rs 74.35 per litre, up 24 paise
  • Mumbai: Petrol Rs 87.73 per litre; diesel Rs 77.93 per litre, up 25 paise
  • Chennai: Petrol Rs 85.50 per litre; diesel Rs 78.61 per litre, up 26 paise
  • Kolkata: Petrol Rs 84.09 per litre; diesel Rs 76.20 per litre, 24 paise

Meanwhile, oil prices edged lower on Wednesday after the IMF lowered its global growth forecasts but prices were supported as Hurricane Michael churned towards Florida, causing the shutdown of nearly 40 per cent of US Gulf of Mexico crude output, reported Reuters. Brent crude LCOc1 futures were down 2 cents at $84.98 a barrel by 0049 GMT, after a 1.3 per cent gain on Tuesday. US West Texas Intermediate (WTI) crude CLc1 was down by 16 cents, or 0.2 per cent, at $74.8 a barrel, after rising nearly 1 per cent in the previous session.

source: businesstoday

 


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