Petrol Prices Cut For 13th Straight Day, Diesel Prices Lowered Further

INSUBCONTINENT EXCLUSIVE:
Petrol and diesel prices today: The rates were at Rs 76.58/litre and Rs 67.95/litre in Delhi respectively
Petrol and diesel prices today were decreased in Delhi, Kolkata, Mumbai and
Chennai
While Monday's reduction was in the range of 19-21 paise per litre in case of petrol compared to the previous day's prices, diesel
prices were cut by 15-16 paise per litre in the four metros, according to data from Indian Oil Corporation
With effect from 6 am, petrol prices today were at Rs 76.58 a litre in Delhi, Rs 79.25 a litre in Kolkata, Rs 84.41 a litre in Mumbai and Rs
79.48 per litre in Chennai, Indian Oil Corporation - the country's largest fuel retailer - notified on its website
respectively.1
Including Monday's cut, petrol prices have been brought down by a total Rs 1.85 per litre in Delhi, Rs 1.81 per litre in Kolkata, Rs 1.83
per litre in Mumbai and Rs 1.95 per litre in Chennai since May 29, Indian Oil Corporation data shows
Diesel prices have been lowered by Rs 1.36 a litre in Delhi and Kolkata each, Rs 1.44 per litre in Mumbai and Rs 1.45 a litre in
2.5173.79Chennai79.4879.6981.4371.7371.8973.18(Source: iocl.com)2
The thirteen cuts in petrol prices, and twelve in case of diesel in 13 days, come after sixteen 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
From May 14 to May 29, petrol prices were increased in the range of Rs 3.74-4 per litre across Delhi, Kolkata, Mumbai and Chennai, while
diesel rates were revised upwards by Rs 3.23-3.62 per litre in the four metros.(Read: Government Looking At Short-Term, Long-Term Solutions
On Petrol, Diesel Prices)3
Currently, domestic petrol and diesel prices are reviewed by Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum
Corporation on a daily basis
The three state-run oil marketing companies track global crude oil and rupee-dollar forex rates, among other factors
litreAgartala72.3466.07Aizwal72.4665.26Ambala76.6968.46Bangalore77.8269.12Bhopal82.1871.52Bhubhaneswar75.472.84Chandigarh73.6565.98Dehradun7
7.8868.28Gandhinagar75.8973.03Gangtok79.669.7Guwahati78.7370.93Hyderabad81.1273.86Imphal74.6666.02Itanagar72.4765.23Jaipur79.3372.37Jammu78.
369.12Jullunder81.7967.86Kohima75.0566.31Lucknow77.3668.1Panjim70.5769.15Patna82.0672.63Pondicherry75.3770.2Port
Blair66.0163.69Raipur76.9873.36Ranchi76.5271.74Shillong75.9767.76Shimla76.7567.59Srinagar8171.33Trivandrum79.6972.74Silvasa74.4968.77Daman74
.4268.7(Source: iocl.com)4
Global crude oil prices were mixed on Monday, caught between the downward pull of rising Russian production and US oil drilling activity at
its highest since 2015, and upward pressure from strong demand, especially in Asia
Brent crude futures, the international benchmark for oil prices, were near $76.50 per barrel
At these levels, crude oil prices have slightly cooled off from last month's highs of around $80 a barrel.5
The rupee edged higher against the US dollar on Monday
The rupee - down over 5.5 per cent against the US dollar so far this year - opened at 67.46 against the greenback
Last Friday, the rupee had plunged by 38 paise to close at a fresh one-week low of 67.50 against the US currency amid worries over rising
global crude prices and capital outflows.(With agency inputs)