Petrol and diesel prices were raised sharply across the four metro cities on Monday, according to Indian Oil Corporation (IOC). One litre of petrol was being sold in New Delhi for Rs 76.25, in Kolkata for Rs 79.14, in Mumbai for Rs 83.70 and in Chennai for Rs 79.20, according to the data on IOC’s website, iocl.com. One litre of diesel was being sold in Delhi for Rs 67.75, in Kolkata for Rs 70.51, in Mumbai for Rs 71.93 and in Chennai for Rs 71.55.
On Sunday, petrol and diesel prices were kept unchanged by fuel retailers after being slashed on Saturday. One litre of petrol was sold in New Delhi for Rs 76.16, in Kolkata for Rs 79.05, in Mumbai for Rs 83.61 and in Chennai for Rs 79.11. A litre of diesel was sold in New Delhi for Rs 67.62, in Kolkata for Rs 70.37, in Mumbai for Rs 71.79, and in Chennai for Rs 71.41.
On Monday, petrol rates in the four metro cities were hiked by 9 paise each. Diesel prices were hiked in Delhi by 13 paise and 14 paise each in Kolkata, Mumbai and Chennai.
Meanwhile, global oil prices were mixed with US benchmark WTI nudging higher after four weeks of declines, while Brent began the week lower as the fallout from trade tensions weighed on markets. US West Texas Intermediate (WTI) crude futures were up 15 cents, or 0.2 per cent, at $68.84 a barrel by 8:39 am IST (0309 GMT). Brent crude futures fell 5 cents to $74.24 a barrel, according to a report by news agency Reuters.
“Concerns around the US-China trade wars continue to weigh on prices, while the halt in Saudi shipments through the Red Sea waterway has seemingly failed to provide a bullish fillip,” said Stephen Innes, head of trading APAC at OANDA Brokerage.
Saudi Arabia last week said it was suspending oil shipments through the Red Sea’s Bab al-Mandeb strait, one of the world’s most important tanker routes, after Yemen’s Iran-aligned Houthis attacked two ships in the waterway.