- Petrol and diesel prices have been hiked by more than ₹1.7 a litre each in 3 days
- With easing of restrictions in 'Unlock 1.0', fuel demand is gradually recovering
- NEW DELHI : With Brent crude oil futures remaining above $40 a barrel mark and fuel demand picking up in India, oil marketing companies today increased the price of petrol and diesel for the third consecutive day. Amid the spread of coronavirus, retailers had stopped the daily practice of reviewing rates based on market conditions for more than 80 days since March 16.
Petrol price was hiked by 54 paise a litre today while diesel is costlier by 58 paise a litre. In just three days, the price of both the fuels has gone up by more than ₹1.7 a litre each.
Gurgaon: Petrol ₹72.55. Diesel ₹64.55
Mumbai: Petrol ₹80.01. Diesel ₹69.92
Chennai: Petrol ₹77.08. Diesel ₹69.74
Hyderabad: Petrol ₹75.78. Diesel ₹69.56
Bengaluru: Petrol ₹75.35. Diesel ₹67.66
Since India imports around 80% of its crude oil requirements, fuel prices are directly dependent on international benchmark rates. Brent crude oil rates have almost doubled in about a month's time and are now trading above $40 a barrel mark amid optimism that easing of lockdown restrictions will increase fuel demand.
0 Comments