Petrol Prices Hiked For Second Straight Day; Diesel Remains Unchanged
Petrol, Diesel Rates: Petrol prices were hiked across the four metros in the country for second straight day while diesel remained unchanged. Petrol prices were hiked by 19 paise in Delhi, Mumbai and Kolkata while in Chennai petrol price was increased by 17 paise. Petrol is priced at Rs 81.19 per litre in Delhi while diesel is being sold at Rs 73.56 per litre in the national capital, according to information on the country's largest oil refiner - Indian Oil's website indianoil.co.in.
Here are the petrol and diesel prices (in rupees per litre) in the four metros on August 21, 2020:
| City | Petrol | Diesel |
|---|---|---|
| Delhi | 81.19 | 73.56 |
| Mumbai | 87.87 | 80.11 |
| Chennai | 84.26 | 78.86 |
| Kolkata | 82.72 | 77.06 |
| 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.
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