Fuel prices vary due to factors such as price of crude oil, foreign exchange rate and local taxes.
Domestic petrol prices were raised in the metros for the fifth consecutive day on Monday, i.e. August 24, whereas diesel rates were left unchanged at existing levels. With today’s hike, petrol prices have been raised eight times in the past nine days. In Delhi, Mumbai, Kolkata and Chennai, the prices of petrol were raised by 12-14 paise per litre with effect from 6 am on August 24, according to notifications from the state-run Indian Oil Corporation. In Delhi, the price of petrol was revised to Rs 81.62 from Rs 81.49 per litre, while diesel prices was kept steady at Rs 73.56 per litre. (Also Read: How To Find Latest Petrol, Diesel Rates In Your City).
Here are the latest prices of petrol and diesel (in rupees per litre) in the four metros on August 24:
| City | Petrol | Diesel |
|---|---|---|
| Delhi | 81.62 | 73.56 |
| Kolkata | 83.13 | 77.06 |
| Mumbai | 88.28 | 80.11 |
| Chennai | 84.64 | 78.86 |
| Source: Indian Oil | ||
State-run Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation account for the majority of fuel outlets in the country, and review the rates of petrol and diesel on a daily basis. Any changes are implemented at fuel stations with effect from 6 am.
Currently, fuel prices vary in different parts of the country due to factors such as price of crude oil, foreign exchange rate and local taxes.
Meanwhile, crude oil prices nudged higher on Monday as storms bore down on the Gulf of Mexico, shutting more than half the region’s oil production, although gains were capped by ongoing concerns about demand from coronavirus lockdowns.
Brent crude oil futures added 8 cents, or 0.2 per cent, to $44.43 a barrel by 0040 GMT while U.S. West Texas Intermediate crude was up 7 cents, or 0.2 per cent, to $42.41 a barrel.
