Domestic petrol and diesel prices were kept unchanged in metros on Thursday, a tenth day of no change in fuel prices following almost three weeks of hikes on most days. In Delhi, diesel continues to remain marginally costlier than petrol. In the national capital, the price of petrol is currently at Rs 80.43 per litre and diesel at Rs 80.78 per litre, according to notifications from state-run Indian Oil Corporation, the country's largest fuel retailer. (Also Read: How To Find Latest Petrol, Diesel Rates In Your City).
Here are the current prices of petrol and diesel in the four metros:
| City | Petrol | Diesel |
|---|---|---|
| Delhi | Rs 80.43 per litre | Rs 80.78 per litre |
| Kolkata | Rs 82.10 per litre | Rs 75.89 per litre |
| Mumbai | Rs 87.19 per litre | Rs 79.05 per litre |
| Chennai | Rs 83.63 per litre | Rs 77.91 per litre |
| (Source: Indian Oil) | ||
However, the prices of petrol continued to be higher compared to diesel in the other metros.
On June 7, state-run oil marketing companies Indian Oil, Hindustan Petroleum and Bharat Petroleum returned to the normal practice of daily price reviews following an 82-day hiatus. The daily reviews are aimed at reflecting changes in crude oil and forex rates in retail fuel prices.
The three state-run companies account for the majority of petrol and diesel stations in the country.
Domestic petrol and diesel prices vary from state to state due to the incidence of value added tax (VAT). The fuel prices are determined broadly by international oil rates and the rupee-dollar foreign exchange rate.
Crude oil prices were little changed on Thursday as concerns about renewed COVID-19 lockdowns in the US outweighed signs of a recovery in US fuel demand. Brent crude futures - the global benchmark for crude oil - were last seen trading 0.05 per cent higher at $43.31 per barrel, having gained 0.5 per cent on Wednesday.
Global oil rates have regained some ground from March lows as the easing of restrictions on transport and industrial activity to curb the spread of the coronavirus pandemic boosted fuel demand around the globe. Brent crude futures had hit a 21-year low of $15.98 per barrel in April.
The rupee traded in a narrow range on either side of 75 against the US dollar in late morning deals on Thursday.
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