Indian Oil, Hindustan Petroleum and Bharat Petroleum review fuel prices on a daily basis
Domestic petrol prices were increased marginally in the metros on Saturday, whereas diesel rates were left unchanged at existing levels. In Delhi, Mumbai, Kolkata and Chennai, the prices of petrol were raised by 14-16 paise per litre with effect from 6 am on August 22 compared to existing levels, according to notifications from state-run Indian Oil Corporation. In Delhi, the price of petrol was revised to Rs 81.35 per litre from Rs 81.19 per litre, and that of diesel kept steady at Rs 73.56 per litre.
Here are the latest prices of petrol and diesel (in rupees per litre) in the four metros:
| City | Petrol | Diesel |
|---|---|---|
| Delhi | 81.35 | 73.56 |
| Kolkata | 82.87 | 77.06 |
| Mumbai | 88.02 | 80.11 |
| Chennai | 84.40 | 78.86 |
| Source: Indian Oil | ||
Petrol and diesel prices are revised on a daily basis by the state-run oil marketing companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum and any change in the price of fuels is implemented on the fuel pump with effect from 6:00 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. Three state-run oil marketing companies account for the majority of petrol and diesel stations in the country.
Crude oil prices climbed on Friday, on track for a third consecutive weekly gain, pulled higher by major oil producers’ efforts to hold back output amid concerns about economic recovery from the coronavirus pandemic.
US West Texas Intermediate (WTI) crude futures rose 13 cents, or 0.3 per cent, to $42.95 per barrel at 0505 GMT, on track for a 2 per cent rise for the week.
Brent crude futures were up 17 cents, or 0.4 per cent, at $45.07 per barrel.
Both benchmark contracts fell around 1 per cent on Thursday on economic concerns after weekly U.S. jobless claims came in higher than expected.
