Petrol and diesel prices were increased for the twelfth day in a row in metros on Thursday, as state-owned oil companies continued with the normal practice of daily reviews following a 12-week pause. With effect from 6 am on June 18, the price of petrol was increased by 53 paise per litre in Delhi, and diesel by 64 paise per litre, compared to the previous day. While the price of petrol was revised to Rs 77.81 per litre in the national capital from Rs 77.28 per litre the previous day, the diesel rate was increased to Rs 76.43 per litre from Rs 75.79 per litre, according to notifications from state-run Indian Oil Corporation, the country's largest fuel retailer. (Also Read: How To Find Latest Petrol, Diesel Rates In Your City)
Here are the latest petrol and diesel prices in metros (in rupees per litre):
|(Source: Indian Oil)|
In the 12-day period, the price of petrol has been increased by a cumulative Rs 6.55 per litre in the national capiital, and diesel by Rs 7.13 per litre.
Domestic petrol and diesel are determined broadly by global oil prices and forex prices.
International crude oil prices edged lower on Wednesday as a draw-down in US distillate stockpiles for the first time since March and a sharp drop in US crude production faced concerns over fuel demand due to fresh outbreaks of COVID-19.
Brent crude futures - the global benchmark for crude oil - were last seen trading down 0.3 per cent at $40.82 per barrel.
Earlier on Wednesday, the rupee ended at 76.16 against the US dollar, nearly unchanged near a six-week low registered the previous day.
State-run oil marketing companies revise the prices of petrol and diesel from time to time, besides aviation turbine fuel (ATF) - or jet fuel - and liquefied petroleum gas (LPG). However, since March 16, the oil companies had kept petrol and diesel prices on hold, possibly due to the volatility in global oil markets.
Fuel retailing in the country is dominated by state refiners - Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation. The three own about 90 per cent of the retail fuel outlets in the country.