No Hike In Petrol, Diesel Prices For Third Consecutive Day

Domestic petrol and diesel prices were paused for the third consecutive day on Thursday, i.e. December 10, after being hiked for seven consecutive days. In Delhi, the price of petrol remained constant at Rs 83.71 per litre with effect from 6 am on Wednesday, and that of diesel was unchanged at Rs 73.87 per litre, according to notifications from 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):

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. 

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.

Meanwhile, oil prices rose in early trade on Thursday, buoyed by a COVID-19 vaccine rollout in Britain and the imminent approval of a vaccine in the United States, which could spur a rebound in fuel demand, despite a large build in U.S. crude stocks last week.

U.S. West Texas Intermediate (WTI) crude futures rose 23 cents, or 0.5%, to $45.75 a barrel at 0200 GMT, while Brent crude futures climbed 21 cents, or 0.4%, to $49.07 a barrel. Prices were little changed overnight.