The oil marketing companies kept the prices of petrol and diesel unchanged on Tuesday (November 17). There has been no change in petrol prices across the metros for more than seven weeks, whereas diesel prices haven't been revised for nearly one and a half months. In the national capital Delhi, the price of petrol remained at Rs 81.06 per litre and diesel was Rs 70.46 per litre, according to recent notifications from the state-run Indian Oil Corporation. In financial capital Mumbai, the prices of petrol and diesel were Rs 87.74 per litre and Rs 76.86 per litre respectively. Oil firms such as Indian Oil Corporation usually change the fuel rates on a daily basis and implement the changes with effect from 6 am. (Also Read: How To Check Latest Petrol And Diesel Rates In Your City)
Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation account for a majority of petrol and diesel stations in the country. The companies align the domestic rates with global benchmarks by taking into account changes in foreign exchange levels. Due to the local taxes, crude oil prices vary in different cities across India.
Here are the prices of petrol and diesel in the four metros (in rupees per litre) :
|Source: Indian Oil|
Meanwhile, oil prices edged higher on Tuesday on expectations OPEC and its allies will extend oil production cuts for at least three months, while sentiment was bolstered by news of another promising coronavirus vaccine.
Brent crude futures for January rose 16 cents, or 0.4 per cent, to $43.98 a barrel by 0104 GMT and U.S. West Texas Intermediate crude for December added 13 cents, or 0.3 per cent, to $41.47 a barrel.