INSUBCONTINENT EXCLUSIVE:
Petrol diesel price today: The price of petrol and diesel was Rs 74.34/litre and Rs 67.24/litre in DelhiDomestic prices of petrol and diesel
were kept unchanged at existing levels in metros on Saturday
Oil marketing companies such as state-run Indian Oil Corporation (IOC) currently review the domestic fuel rates on a daily basis, and
implement any changes at their retail outlets with effect from 6 am
The prices of petrol and diesel in metros such as Delhi and Mumbai have been hiked around 3 per cent since a surge in crude oil prices
following attacks on key Saudi Arabian oil production facilities, which roiled global markets and pushed tanker rates higher
per litre in Mumbai - the same levels as the previous day
The rate of diesel was Rs 67.24 per litre and Rs 70.55 per litre respectively on
Saturday.CityPetrolDieselDelhi74.3467.24Kolkata77.0369.66Mumbai8070.55Chennai77.2871.09(Source: Indian Oil Corporation)Currently, the
domestic prices of petrol and diesel are determined broadly by international crude oil and and rupee-dollar foreign exchange prices.On
Friday, crude oil prices fell and posted a weekly loss on faster-than-expected recovery in Saudi output, while investors also worried about
global crude demand amid slowing Chinese economic growth
Brent crude futures - the global benchmark for crude oil - fell by 83 cents a barrel to end a volatile session at $61.91 a barrel.Industrial
companies in China - the world's second-largest economy and biggest importer of crude oil - reported a contraction in profits in
August.The rupee gained by 32 paise - or 0.45 per cent - to end at a nearly two-month high of 70.56 against the US dollar on Friday, marking
a gain of 0.54 per cent (38 paise) for the week
The rupee has risen 1.20 per cent against the greenback so far this month.The domestic oil marketing companies switched to the current
system of daily price revisions in June 2017, in a shift from fortnightly revisions, in order to reflect the changes in global rates more
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