- Price of petrol was Rs 80.43 and diesel was Rs 73.56 per litre in Delhi
- The domestic fuel prices are currently reviewed on a daily basis
- On Tuesday, brent oil futures closed at highest level since early March
Petrol, Diesel Price Today: State-run oil marketing companies maintained petrol and diesel prices at existing levels in the metros again on Wednesday. In Delhi, the price of petrol stood at Rs 80.43 per litre and that of diesel at Rs 73.56 per litre, and at Rs 87.19 per litre and Rs 80.11 per litre in Mumbai, according to notifications from Indian Oil Corporation, the country's largest fuel retailer. Currently, domestic fuel prices are reviewed on a daily basis, and any revisions implemented at the pumps with effect from 6 am. (Also Read: How To Find Latest Petrol, Diesel Rates In Your City).
The prices of petrol have been steady for more than a month, but diesel rates have been revised on many occasions. Last Friday, the price of diesel was reduced by more than Rs 8 per litre in the national capital, a day after the Delhi government slashed the VAT applicable to the fuel to 16.75 per cent from 30 per cent.
Latest Petrol, Diesel Prices In Four Metros (In Rupees Per Litre)
|(Source: Indian Oil)|
Currently, petrol and diesel prices are determined broadly by crude oil and forex rates, and vary from state to state due to factors such as VAT.
Meanwhile, brent oil futures on Tuesday closed at their highest since early March on hopes the United States is making progress on a new economic stimulus package, as well as curbing the coronavirus spread.
Brent rose 28 cents, or 0.6 per cent, to settle at $44.43 a barrel, its highest close since March 6. U.S. West Texas Intermediate (WTI) crude rose 69 cents, or 1.7 per cent, to $41.70, its highest finish since July 21.