Petrol and diesel prices remained unchanged for the second straight day on Thursday as state-owned oil companies gave a pause in hiking the rates. As the rates remained unchanged, diesel continued to be pricier than petrol in the capital city of Delhi. In the national capital, the price of petrol currently is Rs 80.43 per litre, and that rate of diesel Rs 80.53 per litre, according to notifications from state-run Indian Oil Corporation, the country’s largest fuel retailer. (Also Read: How To Find Latest Petrol, Diesel Rates In Your City).
|(Source: Indian Oil)|
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. Since then, till June 28, prices were hiked for 21 days.
Domestic petrol and diesel prices are determined broadly by crude oil and forex rates, and vary from state to state due to value added tax (VAT).
On Wednesday, on a string of positive manufacturing data and a drawdown in US crude inventories, both indicating an economic recovery and rise in energy demand despite surging coronavirus infections around the world.