Petrol and diesel prices on Tuesday remained unchanged after fuel rates were hiked in Mumbai and Kolkata by Rs 1 on April 2.
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.
Oil prices rebounded Tuesday on fresh hopes an OPEC-led meeting this week will reach an agreement to reduce oversupply and shore up the market. Prices have fallen sharply since expectations for a quick deal to cut output levels were dashed, but the rescheduling to Thursday of a meeting of major crude producers boosted sentiment.
US benchmark West Texas Intermediate was up 3.83 per cent to USD 27.08 a barrel in Asian morning trade. A barrel of Brent crude, the international benchmark, was trading 2.81 percent higher at USD 33.98. Prices fell to 18-year lows last week as the market wallowed in oversupply arising from a price war between Saudi Arabia and Russia, which have ramped up production.