Petrol Prices Hiked Across Metros On Sunday

Today's Petrol, Diesel Rates: Petrol prices were hiked across the metros on Sunday i.e. August 16, after a gap of more than a month, while the diesel prices remain untouched. The price of petrol were increased to Rs 80.57 per litre in Delhi and Rs 87.31 per litre in Mumbai from Rs 80.43 and Rs 87.19 respectively, according to state-run Indian Oil Corporation's website - iocl.com. (Also Read: How To Find Latest Petrol, Diesel Rates In Your City).

Here are the petrol and diesel prices (in rupees per litre) in the four metros on August 16, 2020:

Currently, fuel prices vary in different parts of the country due to factors such as crude oil and foreign exchange rates. Three state-run oil marketing companies - Indian Oil, Bharat Petroleum and Hindustan Petroleum - account for the majority of petrol and diesel stations in the country.

The three companies implement any revisions in the prices with effect from 6 am every day.

Crude oil prices edged lower on Friday on worries that demand would recover more slowly than expected from COVID-19 pandemic lockdowns, while rising supply also overshadowed optimism over falling crude and fuel inventories. Brent crude futures - the global benchmark for crude oil - settled at $44.80 per barrel.

For the week, brent was up 0.9 per cent. During the week, the International Energy Agency (IEA) and the Organization of the Petroleum Exporting Countries (OPEC) trimmed their oil demand forecasts for calendar year 2020. Producers' group OPEC and its allies are increasing output this month.