Fuel Prices Unchanged For Sixth Day, Diesel Still Costlier Than Petrol In Delhi

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Fuel Prices Unchanged For Sixth Day, Diesel Still Costlier Than Petrol In Delhi

Domestic petrol and diesel prices are broadly determined by crude oil and forex rates

Petrol and diesel prices remained unchanged in the metros on Sunday, a sixth consecutive day of no change following three weeks of daily hikes. Diesel continued to remain marginally costlier in Delhi compared to petrol. State-run oil marketing companies raised the prices of petrol and diesel – which are determined broadly by global crude oil prices and the rupee-dollar foreign exchange rate – on most days starting June 7 following a 12-week pause as global oil rates retraced some of the losses from sharp losses recently. (Also Read: How To Find Latest Petrol, Diesel Rates In Your City

Here are the latest petrol and diesel prices in metros (in rupees per litre):

City Petrol Diesel
Delhi 80.43 80.53
Kolkata 82.10 75.64
Mumbai 87.19 78.83
Chennai 83.63 77.72
(Source: Indian Oil)

Currently, the prices of petrol is at Rs 80.43 per litre in Delhi and Rs 87.19 per litre in Mumbai. The rates of diesel are at Rs 80.53 per litre and Rs 78.83 per litre in the metros respectively.

Domestic petrol and diesel prices are broadly determined by crude oil and forex rates, and vary from state to state due to value added tax (VAT).

On Thursday, Brent crude futures – the global benchmark for crude oil – gained nearly 3 per cent to $43.14 per barrel, compared to the 21-year low of $15.98 recorded in April. International crude oil prices have regained some ground from March lows as the easing of restrictions on transport and industrial activity around the globe boosted fuel demand.

Currently, the rupee is at 74.64 against the US dollar, down 6 per cent so far this year. 

On June 7, state-run oil marketing companies Indian Oil, Hindustan Petroleum and Bharat Petroleum  – which account for the majority of petrol and diesel outlets in the country – restarted the normal system of daily price reviews in line with costs following an 82-day hiatus. 

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