New Delhi: Petrol and diesel prices received a break on Wednesday after two consecutive days of increase, but crude oil in the international market continued to boom for the second consecutive session. The price of petrol in the country is at the highest level at the moment and the spurt in crude oil can further increase the inflation of both vehicle fuels. Because India imports most of its oil requirements.
The expectations of announcing a major stimulus package after the newly elected president assumed power in the United States are showing a spurt in oil, as it may increase oil demand. The estimate of reduction in oil stocks may also be one of the reasons. According to Indian Oil's website, petrol prices in Delhi, Kolkata, Mumbai and Chennai are constant at Rs 85.20, Rs 86.63, Rs 91.80 and Rs 87.85 per litre respectively.
Diesel prices remain unchanged at Rs 75.38, Rs 78.97, Rs 82.13 and Rs 80.67 per litre in Delhi, Kolkata, Mumbai and Chennai respectively. The oil marketing companies had hiked petrol prices by 25 paise in Delhi, 24 paise in Kolkata and Mumbai, while in Chennai by 22 paise a litre, diesel prices were hiked by 25 paise per litre in Delhi and Kolkata while 26 paise in Mumbai and 24 paise per litre in Chennai.
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