Petrol prices and diesel prices have eased somewhat from record highs touched in some cities last month Petrol and diesel prices were kept unchanged on Monday, June 18.
That marked the third straight day of steady prices for petrol and the first in case of diesel.
Petrol and diesel prices have eased somewhat from record highs touched in some cities last month.
However, the relief so far this month is to the tune of Rs 2 per litre for petrol prices in Delhi, Kolkata, Mumbai and Chennai, compared with the increase of nearly double the magnitude in the previous month.
In case of diesel, the prices so far this month are down about Rs 1.5 per litre in the four metros, compared with the hike of at least Rs 3 per litre in each of the key cities last month.
An upsurge in global crude oil prices and weakness in the rupee against the US dollar had pushed domestic petrol and diesel prices higher last month.Here are five things to know about petrol price and diesel price today:1.
With effect from 6 am on Monday, June 18, petrol prices were at Rs 76.35 per litre in Delhi, Rs 79.02 per litre in Kolkata, Rs 84.18 per litre in Mumbai and Rs 79.24 per litre in Chennai, according to Indian Oil Corporation.
Diesel prices were at Rs 67.78 a litre, Rs 70.33 a litre, Rs 72.13 a litre and Rs 71.54 a litre in Delhi,Kolkata, Mumbai andChennai.2.
From May 14 to May 29, petrol prices were increased in the range of Rs 3.74-4 a litre across the four metros and diesel prices raised by Rs 3.23-3.62 a litre.
That led to the fuel prices touching all-time highs in some cities including Delhi and Mumbai.Petrol, diesel price listLocationPetrol price inRs.per litreDiesel price inRs.per litreDelhi76.3567.78Kolkata79.0270.33Mumbai84.1872.13Chennai79.2471.54Agartala72.1465.92Aizwal72.2665.11Ambala76.4768.29Bangalore77.5968.87Bhopal81.9471.34Bhubhaneswar75.1772.65Chandigarh73.4365.82Dehradun77.768.11Gandhinagar75.6672.84Gangtok79.469.55Guwahati78.4970.75Hyderabad80.8873.67Imphal74.4465.85Itanagar72.2565.07Jaipur79.0972.19Jammu78.0868.95Jullunder81.5667.7Kohima74.8366.15Lucknow77.1867.93Panjim70.3668.98Patna81.8472.46Pondicherry75.1570.02Port Blair65.8263.54Raipur76.7673.18Ranchi76.3471.57Shillong75.7567.6Shimla76.5267.42Srinagar80.7771.17Trivandrum79.4572.56Silvasa74.2768.6Daman74.268.53(Source: iocl.com)3.
In the international market, crude oil prices - which broadly determine domestic petrol and diesel prices, among other factors - fell more than $2 a barrel on Friday.
The decline in oil prices came after Saudi Arabia and Russia, two of the world's biggest producers, indicated they might increase output at a key OPEC (Organization of the Petroleum Exporting Countries) meeting slated for June 22-23, while US exports were threatened by potential Chinese tariffs on crude oil and refined products.
Oil investors have been nervous ahead of the coming OPEC summit in Vienna.
Saudi Arabia and Russia have already boosted production modestly, and have indicated they were prepared to increase output at that meeting.4.
Last Friday, the rupee crumbled below the key 68-mark to end at a fresh three-week low of 68.01 against the US dollar.
Official data showed India's trade deficit in May widened more than expected amid renewed global trade war fears.That marked the lowest closing for the rupee against the greenback since May 24.
The rupee was the hardest-hit among Asian currencies which suffered due to a strong US dollar and emergence of macroeconomic headwinds.
At68.01, the rupee is down 2 per cent in the past month and a half, and 6.5 per cent so far this year.5.
Last week, state-run oil companies Indian Oil, Bharat Petroleum and Hindustan Petroleum completed a year of daily review of petrol and diesel prices across the country.
Prior to June 16, 2017, petrol and diesel prices were revised on a twice-a-month basis.
The switch to the daily system of price reviews was aimed at a more rapid transmission of changes in global oil rates to the domestic consumer.(With agency inputs)