State-run oil marketing companies maintained petrol and diesel prices at existing levels in the metros, with the exception of Kolkata, on Sunday. In Delhi, the price of petrol stood at Rs 80.43 per litre and that of diesel at Rs 73.56 per litre, and at Rs 87.19 per litre and Rs 80.11 per litre in Mumbai, according to notifications from Indian Oil Corporation, the country's largest fuel retailer. However, the prices of petrol were reduced by 5 paisa to Rs 82.05, while diesel rates were increased by 2 paisa to Rs 77.06 in Kolkata. Currently, domestic fuel prices are reviewed on a daily basis, and any revisions implemented at the pumps with effect from 6 am. (Also Read: How To Find Latest Petrol, Diesel Rates In Your City).
The prices of petrol have been steady for more than a month, but diesel rates have been revised on many occasions. On Friday, the price of diesel was reduced by more than Rs 8 per litre in the national capital, a day after the Delhi government slashed the VAT applicable to the fuel to 16.75 per cent from 30 per cent.
Latest Petrol, Diesel Prices In Four Metros (In Rupees Per Litre)
| City | Petrol | Diesel |
|---|---|---|
| Delhi | 80.43 | 73.56 |
| Kolkata | 82.05 | 77.06 |
| Mumbai | 87.19 | 80.11 |
| Chennai | 83.63 | 78.86 |
| (Source: Indian Oil) | ||
Currently, petrol and diesel prices are determined broadly by crude oil and forex rates, and vary from state to state due to factors such as VAT.
Brent crude was up 34 cents, or 0.8 per cent, at $43.28 a barrel by 1337 GMT. U.S. crude gained 50 cents, or 1.25 per cent, to $40.42 after dropping 3.3 per cent in the previous session, also off lows not seen since July 10.
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