Oil Marketing Companies (OMCs) kept the prices of petrol and diesel unchanged on Wednesday across four metros of the country. According to the rate chart of IOC (Indian Oil Corporation), petrol is being sold today at Rs.76.31 per litre in Delhi and Rs. 83.76 per litre in Mumbai. Petrol prices in Kolkata and Chennai are at Rs. 79.20 per litre and Rs. 79.26 per litre respectively. Diesel can be purchased today at Rs. 67.82 per litre in Delhi. Diesel prices stand at Rs. 72.00 per litre in Mumbai, Rs. 70.58 per litre in Kolkata and Rs. 71.62 per litre in Chennai, as stated by IOC, the nation's largest fuel retailer.
The above listed rates are applicable from 6 am on August 1, 2018. State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices with effect from 6 am on a daily basis.
(The above listed rates are applicable from 6 am on August 1, 2018.)
On Tuesday, petrol rates were raised by 6 paise while diesel prices were hiked by 7 paise in the four metros of the country.
On global front, oil prices fell on Wednesday after industry data showed US stockpiles of crude unexpectedly rising, starting the new month in negative territory after the largest monthly decline in two years in July, as reported by news agency Reuters.
Brent fell more than 6 per cent in July, while US crude futures slumped about 7 per cent, the biggest monthly decline for both benchmarks since July 2016. A Reuters poll showed that oil prices are likely to hold fairly steady this year and next as increased output from OPEC and the United States meets growing demand led by Asia and helps to offset supply disruptions.
Meanwhile, Reserve Bank of India (RBI) is all set to release its monetary policy statement today. (With Reuters inputs)
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