Petrol, Diesel Prices Hiked Across Metros: 10 Things To Know
Here are 10 things to know about fuel prices today:
- Diesel prices were hiked by up to 16 paise in the four metros.
- The rate of diesel was at Rs 65.58 per litre in Delhi, Rs 67.99 per litre in Kolkata, Rs 68.78 per litre in Mumbai and Rs 69.31 per litre in Chennai.
- The domestic fuel prices are determined broadly by dollar-rupee exchange rate and global crude oil prices.
- The rupee fell by as much as 38 paise against the US dollar on Tuesday. After opening lower at 71.83 against the greenback, the rupee depreciated to as much as 71.97 by late afternoon deals.
- International benchmark Brent crude, meanwhile, fell 0.96 per cent to $68.39 per barrel on Tuesday. However, it had surged 14.6 per cent on Monday.
- That marked its biggest one-day percentage gain since at least 1988, according to news agency Reuters.
- US West Texas Intermediate futures were down 1.29 per cent to $62.09 per barrel following a 14.7 per cent surge on Monday, the biggest one-day gain since December 2008.
- On Monday, Hindustan Petroleum Corporation Limited (HPCL) said that price of petrol and diesel at retail outlets might go up if the price of crude stays at current levels.
- The weekend attack on key oil facilities in Saudi Arabia caused the worst disruption to world supplies on record.
- Saturday's attack on Saudi oil facilities also halved the kingdom's oil output, creating the biggest disruption to global oil supplies in absolute terms since the overthrow of the Iranian Shah in 1979, news agency Reuters reported quoting International Energy Agency's data.
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