Petrol, Diesel Price Hike Paused After 21 Days

There was no hike in the prices of petrol and diesel in the metro cities on Sunday, marking a pause after 21 consecutive days of increase, ever since state-owned oil companies returned to the normal practice of daily reviews following a 12-week hiatus. In the national capital, the price of petrol remained unchanged at Saturday’s price of Rs 80.38 per litre and diesel was untouched at Rs 80.40 per litre, according to notifications from state-run Indian Oil Corporation, the country’s largest fuel retailer. The prices were increased by 25 paise per litre for petrol and 21 paise per litre for diesel in the national capital on Saturday. The prices in the other metros of Chennai, Mumbai and Kolkata remained unchanged as well. (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):

Here are the latest petrol and diesel prices in metros (in rupees per litre):

City Petrol Diesel
Delhi 80.38 80.40
Kolkata 82.05 75.52
Mumbai 87.14 78.71
Chennai 83.59 77.61
                                                                  (Source: Indian Oil)

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 had settled lower on Friday as new coronavirus cases spiked in the United States and China, and on growing concerns about rising US output ticking up while crude stockpiles sat at record highs. Brent crude futures – the global benchmark for crude oil – settled down 3 cents at $40.91 per barrel, falling 1 per cent on the week.

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