:: Technical --- ID :: 16660
Petrol price hiked again today, diesel touching ?70 in Bengaluru
Petrol price hiked again today, diesel touching ?70 in Bengaluru

Petrol price hiked again today, diesel touching ?70 in Bengaluru

NEW DELHI : Even as crude oil rates fell by more than a percent yesterday, the prices of petrol and diesel rose by 19 paise a litre and 16 paise a litre, respectively. Since the last two weeks, there hasn't been a single day when the fuel prices have declined.

In Delhi, a litre of petrol costs ?74.61, Bengaluru ?77.10, Mumbai ?80.21, Chennai ?77.50, Hyderabad ?79.25 and Gurgaon ?74.41. A litre of diesel, on the other hand, costs ?67.49 in Delhi, Bengaluru ?69.74, Mumbai ?70.76, Chennai ?71.30, Hyderabad ?73.51 and Gurgaon ?66.55.

Since September 17, petrol price has gone up by ?2.44 a litre while that of diesel by ?1.91 a litre. The recent surge in prices is a consequence of drone attacks on Saudi oil facilities on September 14.

Crude oil rates:

Oil prices rebounded today. December Brent crude futures rose 44 cents, or 0.7% to $59.69 a barrel by 0202 GMT, while U.S. West Texas Intermediate crude was up 39 cents, or 0.7%, at $54.46 a barrel.

Oil prices are likely to remain steady, with Brent averaging $65.19 a barrel and WTI $57.96 in 2019, as flagging demand outweighs supply shocks, a Reuters survey showed.

Brent futures have slumped 8.7% since the end of June after a brief spike earlier this month due to drone strikes on the Abqaiq processing facility and Khurais oil field.

BS-VI fuel:

From today, you can buy BS-VI petrol and diesel all across the Delhi-NCR area as 2,200 retail outlets of state-run oil marketing companies --Indian Oil Corporation Ltd. (IOCL), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL)-- have started supplying BS-VI grade fuels in Haryana’s seven districts including Gurgaon and Faridabad.

Pay higher for credit card payments:

If you use credit cards for making payments at petrol pumps, you will no more get any discount. Earlier, banks were offering 0.75% cashback on fuel transactions done through credit cards but now it has been discontinued. However, you can still get discounts on debit cards and other modes of digital payments.

Livemint 01-10-19