For the fifth consecutive day on Tuesday, November 26, petrol prices continued to rise, while diesel prices remained stable for the second consecutive day. As the crude oil rates rise in the international market, the Oil marketing companies increased the price of petrol by 10 paise per litre in Delhi, Kolkata, Mumbai and Chennai, though there has been no change in the price of diesel for the second consecutive day.
In these five days, petrol has become costlier by 56 paise per litre in Delhi.
According to the website of Indian Oil, the price of petrol in Delhi, Kolkata, Mumbai and Chennai has increased to Rs 74.76, Rs 77.44, Rs 80.42 and Rs 77.72 per litre respectively. Earlier, petrol prices in the four metros were Rs 74.84, Rs 76.82, Rs 80.38 and Rs 77.69 per litre respectively on Monday.
In the international market, the price of petrol has reached one year high due to an increase in the price of crude oil.
The price of diesel remains unchanged in Delhi, Kolkata, Mumbai and Chennai at Rs 65.73, Rs 68.14, Rs 68.94 and Rs 69.47 per litre respectively.
Benchmark crude on the International Market Intercontinental Exchange was trading 0.09 per cent higher at $ 62.62 a barrel in Brent crude's February contract on Tuesday. At the same time, American light crude on the New York Mercantile Exchange was trading at $ 58 a barrel.
India seeks foreign investments in oil
India, the world's third-largest oil importer, wants more foreign investments in its oil and gas sector, Petroleum Minister Dharmendra Pradhan said, as the country takes steps to woo companies, including a recent cut in corporate taxes. India will secure capital, world-class technology and implement any policy reforms needed to become an international energy leader, Pradhan said at an energy conference in New Delhi.
(With IANS inputs)
