Petrol prices were hiked by up to 16 paise per litre in metros while diesel rates were kept unchanged on Thursday. With effect from 6 am on November 14, the price of petrol stood at Rs 73.45 per litre and that of diesel at Rs 65.79 per litre, according to notifications from Indian Oil Corporation, the country's largest fuel retailer. Currently, domestic prices of petrol and diesel are reviewed by oil marketing companies on a daily basis, and any revisions implemented at fuel stations with effect from 6 am. (Also read: How To Find Out Today's Petrol And Diesel Rates On Your Mobile)
In Mumbai, the price of petrol stood at Rs 79.12 per litre, up 15 paise per litre compared to Wednesday's rate, and that of diesel remained at Rs 69.01 per litre, data from Indian Oil showed.
Here's how the prices of petrol and diesel have been moved in the four metros today (November 14):
|(Source: Indian Oil Corporation)|
The domestic prices are determined broadly by the global crude oil and the rupee-dollar foreign exchange rates.
Crude oil prices rose on Thursday in anticipation of lower global supply going forward. Industry data showed a surprise drop in US inventories while comments from an OPEC official about lower-than-expected US shale production growth in 2020 also provided some support for oil.
Brent futures - the global benchmark for crude oil - were last seen up 0.3 per cent at $62.53 per barrel.
The rupee depreciated by 15 paise to hit 72.24 against the US dollar, a day after it ended at a more than two-month low of 72.09.