The oil marketing companies hiked the domestic prices of petrol and diesel in the four metros - Delhi, Mumbai, Kolkata, and Chennai - on Friday after a 2-day hiatus. In Delhi, the price of petrol was hiked as much as 30 paise to Rs 81.89 from Rs 81.59 per litre, while diesel rates were increased by a whooping 45 paise to Rs 71.86 from Rs 71.41 per litre, according to notifications from Indian Oil Corporation. In Mumbai, petrol and diesel rates stood at Rs 88.58 per litre and Rs 78.38 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) :
|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.
Meanwhile, U.S. oil rose for a fifth day on Thursday as a surprise drop in crude inventories extended a rally driven by hopes that vaccines would end the coronavirus pandemic and revive fuel demand.
Brent was up by 20 cents, or 0.4 per cent, at $48.81 a barrel, after rising around 1.6 per cent in the previous session. West Texas Intermediate crude was up by 14 cents, or 0.3 per cent, at $45.85, having gained 1.8 per cent on Wednesday.