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Petrol crosses Rs 80 in three cities; lowest in Delhi

August 8, 2018

Mumbai: Petrol and diesel prices rise for the sixth straight day on Tuesday across metros. The price of petrol in Delhi retailed at Rs 77.06 per litre and diesel to Rs 68.50 a litre, according to price notification of Indian Oil Corp (IOC).
Petrol is retailed at Rs 80.00 in Kolkata, Rs 84.50 in Mumbai and Rs 80.05 in Chennai. Diesel price is Rs 71.31 in Kolkata, Rs 72.72 in Mumbai and Rs 72.35 in Chennai.
These petrol and diesel prices came into effect from 6 am on Tuesday
Oil prices rose on Tuesday ahead of the introduction of US sanctions against major crude exporter Iran.
The main oil market price drivers of recent months have been output levels by top producers Russia, Saudi Arabia and the United States, renewed Iran sanctions, the US-China trade dispute, and unplanned supply disruptions. Some analysts warned that a global heat wave could also now affect oil demand.
Spot Brent crude oil futures were at $73.88 per barrel at 0241 GMT on Tuesday, up 13 cents, or 0.2 per cent, from their last close.
US West Texas Intermediate (WTI) crude futures were up 1 cent at $69.02 barrel.
US sanctions against Iran, which shipped out almost 3 million barrels per day (bpd) of crude in July, are set to begin at 12:01 am US Eastern time (0401 GMT) on Tuesday.

(Except for the headline, this story has not been edited by The Kashmir Monitor staff and is published from a syndicated feed.)

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