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According to the latest IOC application price schedule, the price of oil was sold in Delhi at Rs 76.59. Diesel fuel price today: Oil prices were increased by 6 points in the main subways on Thursday. According to the latest price chart of the IOC application, the price of gasoline was sold in Delhi at Rs 76.59, an increase of 6 paise and at Rs 79.26 in Kolkata, which implies an increase of 6 paise. In Mumbai, a liter of gasoline was sold at 83.97 rupees, compared to 83.91 rupees yesterday, which means an increase of 6 paise per liter. In Chennai, a liter of gasoline will be sold at Rs 79.49, against Rs 79.43 yesterday. Yesterday, oil prices remained unchanged after six days of steady rise
Government-run oil trading companies such as Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices from 6 hours every day. The three state-owned fuel retailers, IOC, Bharat Petroleum Corp. Ltd. and Hindustan Petroleum Corp. Ltd. had not revised gasoline and diesel prices since June 26 before the first hike last Thursday.
While OPEC decided to increase its production the previous month, the United States is putting pressure on India, China and other oil buyers for stop all Iranian oil imports by 4 November. It is done with the aim of stifling the economic life line of the Persian Gulf State with sanctions on its nuclear program. Iran produces between 2.3 and 2.5 million barrels a day and the world looking for substitutes to replace these volumes has put pressure on prices.
Meanwhile, Brent increased by more than $ 1 a large withdrawal in US stocks, recovering some of the heavy market losses of the previous session that had been triggered by news that Libya would resume its exports oil, Reuters reported. Notably, Brent crude was up 96 cents, or 1.31%, at $ 74.36 per 0102 GMT, after earlier at $ 74.46. On Wednesday, the contract fell 6.9% in its largest single-day drop since February 9, 2016. United States Crude oil climbed 21 cents, or 0.3%, to $ 70.59, after dropping 5% from the previous session.
"The two oil contracts have recently fallen around $ 80 and $ 75. Market players are evaluating the risks of a potential price correction," said Fawad Razaqzada, an badyst at FOREX.com, in a note
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