Petrol and diesel prices were not hiked for fourth day in a row on Friday (December 11) after being hiked for seven days in a row. In Delhi, the price of petrol remained constant at Rs 83.71 per litre with effect from 6 am on Friday, and that of diesel was unchanged at Rs 73.87 per litre, according to Indian Oil Corporation, the country’s largest fuel retailer. In Mumbai, petrol and diesel prices were at Rs 90.34 per litre and Rs 80.51 per litre respectively. Petrol prices in Delhi have increased by Rs 2.65 per litre and diesel prices have risen by Rs 3.40 per litre in the past 20 days alone. Fuel prices in Mumbai are the highest among metros. (Also Read: How To Check Latest Petrol And Diesel Rates In Your City)
Here are the current prices of petrol and diesel in the four metros (in rupees per litre):
|Source: Indian Oil|
Oil companies align the domestic fuel prices with global benchmarks by taking into account any changes in the foreign exchange levels. The fuel rates vary from state to state due to local taxes.
Currently, state-owned oil marketing firms Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum – which own the majority of fuel stations in the country – review the fuel prices on a daily basis, and implement any changes with effect from 6 am.
In the international markets, oil prices eased on Friday but were set for a sixth week of gains, as the rollout of novel coronavirus vaccination programmes fed hopes that demand for fuel would rebound next year. Brent was down 19 cents or 0.4 per cent at $50.06 a barrel by 0946 GMT, after rising above $51 a barrel on Thursday to an early-March high.
U.S. oil was down 11 cents, or 0.2 per cent, at $46.67 a barrel, having risen almost 3 per cent in the previous session.
Promising vaccine trials helped lift some gloom over record increases in the number of new coronavirus infections and deaths around the world.
Britain began inoculations this week and the United States could start vaccinations as early as the coming weekend, while Canada on Wednesday approved its first vaccine with initial shots due from next week.
(With inputs from Reuters)