Fuel Prices: Domestic petrol and diesel prices vary across states due to value added tax (VAT).
Petrol, Diesel Rates Today:Petrol price on Thursday touched fresh highs of Rs 84.70 per litre in the national capital after state-owned fuel retailers hiked prices for a second straight day, after a five-day hiatus. In the national capital, the price of petrol were increased by 25 paise from Rs 84.45 per litre to Rs 84.70 per litre and diesel was hiked by a similar amount from Rs 74.63 per litre to Rs 74.88 per litre, according to Indian Oil Corporation, the country’s largest fuel retailer. This is the highest ever price of petrol in Delhi, while diesel is at a record high in Mumbai. The previous highest ever rate of Rs 84 a litre for petrol in Delhi was touched on October 4, 2018. On that day, diesel too had scaled to an all-time high of Rs 75.45 a litre. In Mumbai, the revised petrol and diesel prices stood at Rs 91.32 per litre and Rs 81.60 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 rupees per litre):
| City | Petrol | Diesel |
|---|---|---|
| Delhi | 84.70 | 74.88 |
| Mumbai | 91.32 | 81.60 |
| Chennai | 87.40 | 80.19 |
| Kolkata | 86.15 | 78.47 |
| Source: Indian Oil | ||
Oil marketing companies – Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum align the prices of domestic fuel with global benchmarks by taking into account alterations in the foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day. The fuel rates vary from state to state in the country due to the value-added tax or VAT.
Oil prices steadied on Monday after strong gains last week, as tough coronavirus lockdowns around the world renewed concerns about global fuel demand, while a stronger U.S. dollar also weighed on prices.
Brent fell 33 cents to settle at $55.66 a barrel, after bouncing off the session low of $54.99. U.S. West Texas Intermediate (WTI) rose a cent to settle at $52.25 a barrel.