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Petrol Costs Rs. 80 Or More In Three Metros; Cheapest In Delhi

Petrol Costs Rs. 80 Or More In Three Metros; Cheapest In Delhi

Fuel retailers raised petrol and diesel rates for the sixth straight day on Tuesday across metros. In Kolkata, Mumbai and Chennai, petrol costs Rs. 80 or more while it is the cheapest in national capital New Delhi among the four metro cities of the country. Diesel prices too are the cheapest in Delhi among the four top cities. A litre of petrol was being sold in New Delhi for Rs. 77.06, in Kolkata for Rs. 80, in Mumbai for Rs. 84.50, and in Chennai for Rs. 80.05. A litre of diesel was being sold in New Delhi for Rs. 68.50, in Kolkata for 71.31, in Mumbai for Rs. 72.72, and in Chennai for Rs. 72.35, showed data from Indian Oil Corporation.
These petrol and diesel prices came into effect from 6 am on Tuesday.

Monday's petrol prices ranged from Rs. 76.97 to Rs. 84.41 while diesel rates were between Rs. 68.44 and 72.66.

Global oil markets started cautiously on Tuesday, as many traders in Asia were reluctant to take on new positions ahead of the introduction of US sanctions against major crude exporter Iran.

Spot Brent crude oil futures were at $73.74 per barrel at 0100 GMT or 6:30 am IST on Tuesday, down 1 cent from their last close.

US West Texas Intermediate (WTI) crude futures were down 8 cents at $68.93 barrel.

US sanctions against major oil exporter Iran are set to kick in at 12:01 a.m. US Eastcoast time (0401 GMT or 9:31 am IST) on Tuesday.

Traders in Asia said they were holding back on making bets on oil ahead of European and US trading hours, which tend to see much higher liquidity and stronger price movements. (With Reuters inputs)

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