Petrol, diesel prices: Petrol and diesel rates are reviewed by oil marketing companies on a daily basis
Petrol and diesel prices were kept unchanged on Wednesday. The pause on price changes comes after six consecutive days of hikes in metros including Delhi and Mumbai. Petrol prices have been increased by Rs 67-72 per litre in Delhi, Mumbai, Kolkata and Chennai since February 13, and diesel rates raised by Rs 55-59 per litre, according to data from Indian Oil Corporation (IOC). Domestic petrol and diesel prices have been increased around 3 per cent and 5 per cent respectively so far this calendar year, the data showed.
Here are 10 things to know about petrol and diesel prices today:
- Petrol prices in Delhi and Mumbai remained at Rs 71 per litre and Rs 76.64 per litre on Wednesday, the same levels as the previous day, according to Indian Oil.
- Diesel prices stood at Rs 66.17 per litre and Rs 69.3 per litre respectively.
- In Kolkata, the price of petrol was Rs 73.11 per litre and that of diesel at Rs 67.95 per litre.
- In Chennai, petrol and diesel prices were at Rs 73.72 per litre and Rs 69.91 per litre respectively.
- Currently, the prices of petrol and diesel are reviewed by oil marketing companies on a daily basis, and any changes are effected at fuel stations at 6 am.
- Petrol and diesel prices are determined broadly by the rates of crude oil overseas and rupee-dollar in the forex market.
- The fuel rates vary from city to city and from pump to pump, depending on local taxes and transportation cost.
- Petrol prices are up Rs 2.16 per litre and Rs 2.17 per litre in Delhi and Mumbai so far this year. Diesel prices have been raised by Rs 3.31 per litre and Rs 3.54 per litre respectively.
- Global crude oil prices have declined 23.4 per cent since the October high of $86.74 a barrel. However, Brent futures - the global benchmark for crude oil - have risen about 23.5 per cent so far in 2019.
- The rupee has weakened about 2.3 per cent against the dollar so far this calendar year.
(With agency inputs)
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