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Petrol, diesel prices up in four metros; check the latest rates on March 1

Petrol rates today are Rs 71.57 per litre in Delhi, Rs 79.45 per litre in Mumbai, Rs 74.32 per litre in Kolkata, and Rs 74.21 per litre in Chennai.

(Image: Reuters)
(Image: Reuters)

The prices of petrol and diesel jumped marginally across Delhi, Mumbai, Kolkata and Chennai on Thursday. The revised rates are effective 6 am today. According to the Indian oil Corporation’s website, petrol rates are Rs 71.57 per litre in Delhi, Rs 79.45 per litre in Mumbai, Rs 74.32 per litre in Kolkata, and Rs 74.21 per litre in Chennai. Therates of diesel are at  Rs 62.25 per litre in Delhi, Rs 66.3 per litre in Mumbai, Rs 64.94 per litre in Kolkata, and Rs 65.63 per litre in Chennai.

On 28 February, petrol rates wre Rs 71.51 per litre in Delhi, Rs 79.39 per litre in Mumbai, Rs 74.26 per litre in Kolkata, and Rs 74.15 per litre in Chennai. The rates of diesel were at  Rs 62.15 per litre in Delhi, Rs 66.19 per litre in Mumbai, Rs 64.84 per litre in Kolkata, and Rs 65.52 per litre in Chennai during the same period.

The prices of both fuels went changed between 6 to 11 paise on 1 March. The rates of both petrol and fuel remained same on 27 February and 28 February. The prices plungd in the last two sessions as investors maintained distance from volatile equity markets. The interest in commodities has slipped in the last few days and therefore US dollar has gained, said a report by Reuters. For April delivery, US West Texas Intermediate crude jumped 8 cents at $61.72 a barrel by 0403 GMT. Thereafter, it settled at 2.2 percent in the previous session. For May delivery, brent crude plunged 3 cents at $64.70. The two benchmark contracts plunged about 5 percent this month – the first monthly fall in six months.

Compared with the analyst expectations for a stock up of 2.1 million barrels, crude investories rose in the US by 3 million barrels previous week, , weekly data by the Energy Information Administration (EIA) said. In US, gasoline stocks were up by 2.5 million barrels in comparison to the expectations for a drop of 190,000-barrel, which further pushed gasoline futures lower. Distillate stockpiles, which include diesel and heating oil, declined by 1 million barrels, against the expectations for a 709,000-barrel plunge. The rising production of crude oil in the US has controlled the oil prices from rising much this year, even though Russia and the OPEC have cut the output.

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First published on: 01-03-2018 at 16:08 IST
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