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

Petrol and diesel prices remained unchanged in the metros on Monday, a seventh consecutive day of no change following three weeks of daily hikes.

Fuel Prices Unchanged For Seventh 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 Monday, a seventh 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):

CityPetrolDiesel
Delhi80.4380.53
Kolkata82.1075.64
Mumbai87.1978.83
Chennai83.6377.72
                                                               (Source: Indian Oil)

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).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.

Meanwhile, oil prices were mixed on Monday as coronavirus spike casts shadow over US demand. Brent crude edged higher, supported by tighter supplies, while US benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb oil demand in the United States.

Brent crude rose 11 cents, or 0.3 per cent, to $42.91 a barrel by 0109 GMT after a 4.3 per cent gain last week, while US West Texas Intermediate crude was at $40.35, down 30 cents, or 0.7 per cent, from its previous settlement on Thursday.

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.