INSUBCONTINENT EXCLUSIVE:
Fuel prices today: Diesel was selling at a price of Rs
73.87 per litre in Delhi.The oil marketing companies (OMCs) kept the fuel rates unchanged on Wednesday across four metro cities after
increasing the prices for six consecutive days
Petrol can be purchased at a price of Rs
82.16 per litre in Delhi, according to a price notification of state-owned fuel retailers
A litre of petrol is retailing at a price of Rs
73.87 per litre in Delhi, Rs
78.42 per litre in Mumbai, Rs
78.10 per litre in Chennai and Rs
75.72 per litre in Kolkata.The fuel rates vary from city to city and from pump to pump depending on local taxes and transportation cost
Meanwhile, on Tuesday, prices of petrol and diesel scaled new highs, with petrol nearing Rs 90 per litre in Mumbai and crossing Rs 84 in
Kolkata.Except for halts on September 5 and September 12, fuel prices have been hiked almost daily across India over the past few weeks
According to experts, a weak rupee, high excise duty and expensive crude oil raise the petrol and diesel prices
Depreciation in the Indian rupee against the US dollar makes the import of crude oil expensive as transaction is done in dollars.Globally,
oil prices were steady on Wednesday as concerns that producers will not be able to respond to a shortfall in supply once US sanctions on
Iran are enacted outweighed a gain in stockpiles in the United States, the world's biggest oil user.The Organization of the Petroleum
Exporting Countries (OPEC)and non-OPEC producers, including the world's biggest producer Russia, are meeting on Sept
23 in Algiers, Algeria, to discuss how they can allocate supply increases within their quota framework to offset the loss of Iranian oil
