Petrol and diesel prices were kept unchanged in metros on Tuesday, with diesel remaining costlier than petrol in Delhi. State-run oil marketing companies had increased the prices of petrol and diesel in metros on most days since they returned to the normal practice of daily reviews following a 12-week hiatus. In the national capital, the price of petrol currently is Rs 80.43 per litre, and that rate of diesel Rs 80.53 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)|
However, the prices of petrol continued to be much higher than diesel in Kolkata, Mumbai and Chennai.
On June 7, state-run oil marketing companies Indian Oil, Hindustan Petroleum and Bharat Petroleum – which account for the majority of petrol and diesel outlets in the country – restarted the normal system of daily price reviews in line with costs following an 82-day hiatus.
Domestic petrol and diesel prices are determined broadly by crude oil and forex rates, and vary from state to state due to value added tax (VAT).
Crude oil prices rose by about $1 per barrel on Monday, after bullish data from Asia and Europe, but investors are wary about sharp spikes in new coronavirus infections around the world. Brent crude futures – the global benchmark for crude oil – were last seen trading 1.8 per cent higher at $41.76 per barrel.
Global oil rates have regained some ground from March lows as the easing of restrictions on transport and industrial activity to curb the spread of the coronavirus pandemic boosted fuel demand around the globe. Brent crude futures had hit a 21-year low of $15.98 per barrel in April.
The rupee edged higher to settle at 75.58 against the dollar on Monday.