Petrol, diesel prices hiked by Rs 1 in Mumbai, Kolkata
(Photo by Pedro PARDO / AFP)

Amid coronavirus outbreak, petrol and diesel prices were hiked by Rs 1 in Mumbai and Kolkata after it remained unchanged for sixteen consecutive days.

According to the official website of Indian Oil Corporation, on Thursday, petrol now costs Rs 69.59 per litre in Delhi, Rs 76.31 per litre in Mumbai. Similarly, diesel costs Rs 62.29 a litre in Delhi, Rs 66.21 a litre in Mumbai. In Kolkata, a litre of petrol will cost Rs 73.30 per litre whereas diesel is now priced at Rs 65.62 per litre. In Chennai, a litre of petrol will cost Rs 72.28 per litre whereas diesel is now priced at Rs 65.71 per litre. The retail prices of the 2 fuels are revised daily. The petrol and diesel rates are revised on the basis of crude prices within the international market.

Crude oil futures on Wednesday plummeted 5.77 per cent to Rs 1,583 per barrel as participants trimmed their positions in line with weak trend overseas. On the Multi Commodity Exchange, crude oil for April delivery fell by Rs 97, or 5.77 per cent, to Rs 1,583 per barrel with a business volume of 33,767 lots.

Crude oil for May delivery was quoting lower by Rs 85, or 4.3 per cent, to Rs 1,892 per barrel with an open interest of 544 lots. Globally, West Texas Intermediate crude oil fell 0.34 per cent to USD 20.41 per barrel and, Brent Crude slipped 0.09 per cent to USD 22.74 per barrel in New York.

(Inputs from PTI)

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