Petrol, Diesel Prices Paused After Five Consecutive Daily Hikes

In Delhi,the price of petrol remained steady atRs 81.59 per litre, while diesel rates were untouched atRs 71.41 per litre, according to notifications from Indian Oil Corporation.

Petrol, Diesel Prices Paused After Five Consecutive Daily Hikes

Fuel Prices: Domestic petrol and diesel prices vary across states due to value added tax (VAT).

The oil marketing companies kept the domestic prices of petrol and diesel in the four metros - Delhi, Mumbai, Kolkata, and Chennai - unchanged on Wednesday, after five consecutive days of increases. In Delhi, the price of petrol remained steady at Rs 81.59 per litre, while diesel rates were untouched at Rs 71.41 per litre, according to notifications from Indian Oil Corporation. In Mumbai, petrol and diesel rates stood at Rs 88.29 per litre and Rs 77.90 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) :

CityPetrolDiesel
Delhi81.5971.41
Mumbai88.2977.90
Chennai84.6476.88
Kolkata83.1574.98
Source: Indian Oil

Indian Oil Corporation, the country's largest fuel retailer, revises the domestic fuel rates on a daily basis, and implement the changes with effect from 6 am. Bharat Petroleum Corporation, Indian Oil Corporation, and Hindustan Petroleum Corporation hold the majority of petrol and diesel stations in the country. The oil firms align the domestic rates with the global benchmarks by considering changes in foreign exchange levels.

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Meanwhile, U.S. oil edged lower on Wednesday, after an industry report showed crude stockpiles in the United States rose against expectations, tempering a rally driven by news that another vaccine against COVID-19 had proved effective in trials.

West Texas Intermediate crude was down 14 cents, or 0.3 per cent, at $44.77 a barrel by 0035 GMT, after rising more than 4 per cent on Tuesday. Brent crude was yet to trade, having risen almost 4 per cent in the previous session.