Despite a fall in global crude prices, petrol and diesel prices were raised for the second straight day on Friday, according to Indian Oil Corporation (IOC). One litre of petrol was being sold in New Delhi for Rs. 76.50, in Kolkata for Rs. 79.42, in Mumbai for Rs. 83.94, and in Chennai for Rs. 79.48, data from IOC’s website iocl.com showed. Diesel was being sold in New Delhi at the rate of Rs. 68.02 per litre, in Kolkata at Rs. 70.80 per litre, in Mumbai at Rs. 72.21 per litre, and in Chennai at Rs. 71.86 per litre.
(Petrol, diesel rates on Friday in four metro cities of the country)
In global markets, oil prices edged lower after strong gains the previous day, easing on persistent supply concerns as Russia increased production in July and Saudi Arabia cut the price of crude for its Asian customers, according to a report by news agency Reuters.
Brent crude futures were down 17 cents, or 0.2 per cent at $73.28 a barrel by 8:02 am or 0232 GMT, after rising 1.5 per cent on Thursday.
US West Texas Intermediate (WTI) crude was off by 2 cents at $68.94, after gaining nearly 2 per cent in the previous session. (With Reuters inputs)