Petrol, Diesel Prices Steady After Six Days Of Reduction
Petrol and diesel prices remained steady at existing levels on Wednesday. The pause in fuel price revisions comes after six consecutive days of reduction. With effect from 6 am on Wednesday, June 5, the price of petrol stood at Rs 71.23 per litre in Delhi, Rs 73.47 per litre in Kolkata, Rs 76.91 per litre in Mumbai and Rs 74.01 per litre in Chennai, the same levels as the previous day, according to notifications from Indian Oil Corporation. The price of diesel remained at Rs 65.56 per litre, Rs 67.48 per litre, Rs 68.76 per litre and Rs 69.36 per litre respectively.
Petrol prices
| Date | Price in rupees per litre | |||
|---|---|---|---|---|
| Delhi | Kolkata | Mumbai | Chennai | |
| June 5, 2019 | 71.23 | 73.47 | 76.91 | 74.01 |
| June 4, 2019 | 71.23 | 73.47 | 76.91 | 74.01 |
| June 3, 2019 | 71.3 | 73.54 | 76.98 | 74.08 |
| June 2, 2019 | 71.5 | 73.71 | 77.16 | 74.27 |
| June 1, 2019 | 71.62 | 73.74 | 77.28 | 74.39 |
| May 31, 2019 | 71.73 | 73.79 | 77.34 | 74.46 |
| (Source: Indian Oil) | ||||
Diesel prices
| Date | Price in rupees per litre | |||
|---|---|---|---|---|
| Delhi | Kolkata | Mumbai | Chennai | |
| June 5, 2019 | 65.56 | 67.48 | 68.76 | 69.36 |
| June 4, 2019 | 65.56 | 67.48 | 68.76 | 69.36 |
| June 3, 2019 | 65.76 | 67.68 | 68.97 | 69.58 |
| June 2, 2019 | 66.16 | 68.06 | 69.37 | 69.98 |
| June 1, 2019 | 66.36 | 68.21 | 69.58 | 70.19 |
| May 31, 2019 | 66.51 | 68.27 | 69.69 | 70.31 |
| (Source: Indian Oil) | ||||
Currently, the domestic petrol and diesel prices are reviewed by oil marketing companies such as state-run Indian Oil on a daily basis - a scheme adopted in June 2017 with an aim to achieve better alignment of domestic rates with global oil prices. Any revisions in the current regime are implemented at the fuel pumps with effect from 6 am.
The domestic fuel prices are broadly determined by international crude oil prices and the rupee-dollar exchange rate.