Fuel Prices: Domestic petrol and diesel prices vary across states due to value added tax (VAT).
Oil marketing companies hiked the prices of petrol and diesel on Wednesday, after a pause of 2 days. Petrol prices were hiked by up to 15 paise and diesel was increased by up to 25 paise across the metros. The fuel rates have been hiked ten times in the past 13 days alone. In Delhi, the price of petrol was hiked to Rs 82.49 from Rs 82.34 per litre, with effect from 6 am on November 29, and diesel prices were increased to Rs 72.65 from Rs 72.42 per litre, according to notifications from Indian Oil Corporation. Similarly, in Mumbai, petrol and diesel rates stood at Rs 89.16 per litre and Rs 79.22 per litre respectively. (Also Read: How To Check Latest Petrol And Diesel Rates In Your City)
Here are the current prices of petrol and diesel in the four metros (in rupees per litre):
| City | Petrol | Diesel |
|---|---|---|
| Delhi | 82.49 | 72.65 |
| Mumbai | 89.16 | 79.22 |
| Chennai | 85.44 | 78.06 |
| Kolkata | 84.02 | 76.22 |
| Source: Indian Oil | ||
Since November 20, oil marketing companies Indian Oil, Hindustan Petroleum and Bharat Petroleum have raised domestic fuel prices on nine occasions, following a two-week hiatus. In Delhi, petrol rates have been raised by Rs 1.28 per litre and diesel by Rs 1.96 during this period.
The three state-run companies currently review the domestic petrol and diesel rates on a daily basis, and implement any changes to align them with global benchmarks with effect from 6 am.
Meanwhile, oil prices extended losses on Wednesday, hit by a surprise build in oil inventories in the United States and as OPEC and its allies left markets in limbo by delaying a formal meeting to decide whether to increase output in January.
Brent crude oil futures were down by 27 cents, or 0.6 per cent, at $47.15 a barrel by 0131 GMT, while West Texas Intermediate crude was down by 29 cents, or 0.7 per cent, at $44.26.