The domestic fuel prices are determined broadly by the global crude oil and rupee-dollar forex rates.
Oil marketing companies hiked the rates of petrol and diesel across metros on Thursday. With effect from 6 am, the price of petrol was at Rs. 70.12 per litre in Delhi, Rs. 72.38 per litre in Kolkata, Rs. 75.82 per litre in Mumbai and Rs. 72.84 per litre in Chennai, according to notifications from state-run Indian Oil Corporation (IOC). Petrol prices were hiked by 7 paise per litre in the Delhi, Kolkata, Mumbai and Chennai compared to the previous day’s rates, data from Indian Oil showed.
The rate of diesel was at Rs. 63.95 per litre in Delhi, Rs. 65.87 per litre in Kolkata, Rs. 67.05 per litre in Mumbai and Rs. 67.64 per litre in Chennai. The prices were increased by 5 paise per litre in Delhi, Kolkata and Chennai compared to Wednesday’s rates. In Mumbai, the rates were hiked by 6 paise per litre.
Here are the petrol, diesel rates across metros:
(In Mumbai, diesel rates were hiked by 6 paise per litre)
State-run oil marketing companies review the domestic fuel prices on a daily basis and any revisions are implemented at the fuel stations with effect from 6 am.
The domestic fuel prices are determined broadly by the global crude oil and rupee-dollar forex rates.
Globally, oil prices fell on Thursday to erase some of the previous session’s strong gains, as traders wait for the G20 summit in Japan and for a meeting of OPEC and other crude producers to decide on an extension of output cuts, reported news agency Reuters.
Brent futures, the global benchmark for crude oil, were down 42 cents, or 0.6 per cent, at $66.07 in intraday trade.
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