OCTOBER 3, 2018
There seems to be no respite for common man as fuel prices continue to rise on Monday with petrol breaching the Rs 91 mark in Mumbai. Today, a litre of petrol could be retailed at Rs 91.08 in the business capital of the country, up from Sunday’s Rs 90.84. Diesel can be purchased at Rs 79.72 per litre in Mumbai today, registering a surge of 32 paise. Petrol, in Delhi, costs Rs 83.73 a litre and diesel is retailing at Rs 75.09 per litre.
In Kolkata petrol can be availed at Rs 85.53, and Rs 87.05 in Chennai. Diesel can be retailed at Rs 76.94 per litre in Kolkata, Rs 79.40 per litre in Chennai, according to the Indian Oil Corporation (IOC).
Meanwhile, petrol prices in Delhi, Kolkata and Chennai on Sunday were Rs 83.49, Rs 85.30 and Rs 86.80 per litre respectively ? all new levels ? higher than the respective previous high of Rs 83.40, Rs 85.21 and Rs 86.70 the previous day.
Brent crude oil prices hit their highest level since November 2014 on Monday ahead of U.S. sanctions against Iran that kick in next month. Brent crude oil futures were trading at $83.24 per barrel at 0228 GMT, up 51 cents, or 0.3 percent, their highest level since November 2014.
US West Texas Intermediate (WTI) crude futures were up 37 cents, or 0.5 percent, at $73.62 a barrel. WTI prices were supported by a stagnant rig count, which points to a slowdown in US crude production. Brent was pushed up by the looming sanctions against Iran, which will start targeting its oil sector from November 4.
Courtesy/Source: The Financial Express