Petrol, Diesel Prices Hiked For Eighth Day In A Row: 10 Things To Know

Edited By Anshul (With inputs from agencies)

24 Sep 2019, 05:23 PM IST

Domestic petrol and diesel prices are determined broadly by crude oil and forex rates.

In Delhi, Kolkata and Mumbai, the prices of petrol were hiked by 22 paise per litre each on Tuesday. In Chennai, the petrol rate was increased by 23 paise per litre. (Also read: How to find out today's petrol, diesel prices through SMS)
The rate of diesel was at Rs 67.07 per litre in Delhi, Rs 69.49 per litre in Kolkata, Rs 70.37 per litre in Mumbai and Rs 70.91 per litre in Chennai.
That marked an increase of 14 paise per litre each in Delhi and Kolkata, and 15 paise per litre each in Mumbai and Chennai.
Currently, oil marketing companies such as Indian Oil Corporation review the domestic fuel prices on a daily basis, and implement any revisions at the fuel stations with effect from 6 am.
Domestic prices of petrol and diesel are determined broadly by international prices of crude oil and the rupee-dollar foreign exchange rate.
Crude oil prices dipped on Tuesday amid expectations of subdued demand although uncertainty remained about whether Saudi Arabia would be able to fully restore output after recent attacks on its oil facilities.
Brent crude futures - the global benchmark for crude oil - fell as much as 1.53 per cent to $63.78 a barrel on Tuesday, and were last seen down 1.30 per cent at $63.93 a barrel.
Oil prices had jumped by as much as 19 per cent early last week before coming off peaks after an attack on oilfields of Saudi Arabia over the previous weekend disrupted 5 per cent of global oil supply.
The rupee moved in a range of 70.72-71.05 against the dollar on Tuesday as against its previous close of 70.93. It was last seen trading 0.12 per cent lower at 71.01 against the greenback.
Petrol and diesel prices have been increased by around 3 per cent each in the four metros so far this month, according to data from Indian Oil.