Oil prices surge in global market amid escalating Iran-Israel tensions
The price of Brent crude had fallen to around $87 per barrel on Wednesday following higher US inventories and the decline in Chinese demand due to a slowing economy.
Petrol prices dropped for fourth-day in a row, the fuel became around 9 paise cheap, while the diesel fell after a two-day break by 4 paise in New Delhi on Monday. A similar trend followed in other major cities as well.
Petrol prices in Delhi, Mumbai and Chennai were reduced by nine paise per litre, while in Kolkata there was a reduction of eight paise per litre. Diesel prices, on the other hand, were reduced by five paise in Delhi, three paise in Kolkata and Mumbai, and two paise per litre in Chennai.
According to the Indian Oil website, petrol prices in Delhi, Kolkata, Mumbai and Chennai have come down to Rs 72.65, Rs 75.37, Rs 78.33 and Rs 75 per litre respectively. Diesel prices in the four metros have come down to Rs 65.75, Rs 68.16, Rs 68.96 and Rs 69.50 per litres respectively.
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(With input from agencies)
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