The oil marketing companies kept the prices of petrol and diesel unchanged on Wednesday (November 18). 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 lower in post-settlement trade on Tuesday after an industry group reported a bigger build than expected in U.S. crude stockpiles, adding to worries that new coronavirus lockdowns could hit demand.
During the session, prices were narrowly mixed as the demand fears offset hopes for a vaccine and talk of tighter OPEC+ supply policies. Brent futures fell 7 cents, or 0.2 per cent, to settle at $43.75 a barrel. U.S. crude gained 9 cents, or 0.2 per cent, to settle at $41.43.