Petrol and diesel prices were kept unchanged at existing rates in metros on Wednesday. In Delhi, the price of petrol stood at Rs 75.70 per litre and diesel at Rs 69.06 per litre on January 15 - the same levels as the previous day, according to Indian Oil Corporation (IOC). In Mumbai, the prices of petrol and diesel remained at Rs 81.29 per litre and Rs 72.42 per litre respectively. (Also read: How to receive petrol and diesel rates in your city through SMS)
Here's how Indian Oil has changed the domestic prices of petrol and diesel in Delhi and Mumbai in the past few days:
Price in rupees per litre
|(Source: Indian Oil Corporation)|
Currently, the prices of petrol and diesel are reviewed by oil marketing companies such as state-run Indian Oil on a daily basis, and any revisions are implemented at fuel stations with effect from 6 am.
The domestic fuel prices are determined broadly by the global crude oil prices and the foreign exchange rates.
Crude oil prices slipped on Wednesday on concerns that the pending Phase 1 trade deal between the US and China, the world's biggest crude users, may not lead to more fuel demand as the US intends to keep tariffs on Chinese goods in place.
Brent crude futures - the global benchmark for crude oil - were last seen down 0.3 per cent at $64.28 per barrel.
Meanwhile, the rupee declined by 14 paise to slip below the 71 mark against the US dollar in early trade.