NEW DELHI : Petrol price has once again started to inch upwards and is now at a year high level. The price of petrol has so far gone up by 9 paise a litre while that of diesel has risen sharply by 26 paise a litre.

In New Delhi, a litre of petrol costs 75 a litre and diesel 66.04. In Mumbai, petrol is priced at 80.65 and diesel 69.27. In Bengaluru, you pay 77.57 for petrol and 68.29 for diesel. Those in Hyderabad will have to pay 79.81 for petrol and 72.07 for diesel.

If you are in Noida, you are charged 76.29 for petrol and 66.35 for diesel. In Gurgaon, you are charged 74.49 for petrol and 65.35 for diesel.

Petrol, diesel rates are expected to increase further following a spike in crude oil rates after Saudi Arabia announced its decision to significantly cut crude oil production. Crude oil rates were now trading near the highest level in almost 3 months.

Oil rates, however, dropped today after customs data showed exports from China in November fell 1.1% from a year earlier - a sharp reversal from expectations for a 1% rise in a Reuters poll.

Brent futures were down 21 cents, or 0.3%, at $64.18 per barrel by 0220 GMT, after gaining about 3% last week on the news that OPEC and its allies would deepen output cuts.

West Texas Intermediate oil futures were down 28 cents, or 0.47% to $58.92 a barrel, having risen about 7% last week on the prospects for lower production from 'OPEC+', which is made up of the Organization of the Petroleum Exporting Countries (OPEC) and associated producers including Russia.

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