Petrol and diesel prices have increased by 27 paise and 16 paise a litre, respectively, this week. State-run fuel retailers today increased the price of petrol by 14 paise a litre and that of diesel by 16 paise a litre.
In Delhi, a litre of petrol costs ₹ 71.25 a litre in Delhi, ₹ 76.86 in Mumbai, ₹ 74.10 in Chennai and ₹ 73.46 in Kolkata. Diesel, on the other hand, costs ₹ 66.45 a litre in Delhi, ₹ 69.63 in Mumbai, ₹ 70.24 in Chennai and ₹ 68.21 in Kolkata.
So far this month the price of petrol has fallen by ₹ 1.74 per litre and diesel by ₹ 26 paise per litre.
Amid US-China trade war concerns, crude oil futures in New York and London fell more than 5% on Thursday but recovered more than 1% today. Brent crude futures were at $68.65 per barrel while US West Texas Intermediate (WTI) crude futures were up 1.3%, at $58.65 per barrel.
In the meantime, PTI reported that India has stopped importing oil from Iran after American waivers granted to eight buyers expired early this month. India is the latest country to comply with the US sanctions on Tehran over its nuclear programme.
Indian Ambassador to the US Harsh Vardhan Shringla said India has stopped importing oil from Iran after the United States refused to extend exemption from sanctions earlier this month.