Domestic petrol and diesel prices remained steady on Friday. With effect from 6 am, the price of petrol stood at Rs 73.07 per litre in Delhi and Rs 78.64 per litre in Mumbai, according to a notification from Indian Oil Corporation. Diesel prices remained at Rs 66.66 per litre and Rs 69.77 per litre in the metros respectively, according to state-run Indian Oil, the country's largest fuel retailer. (Also read: How to check today's petrol and diesel rates in your city)
Currently, oil marketing companies such as Indian Oil Corporation review the domestic fuel prices on a daily basis, and any revisions are implemented at the fuel pumps with effect from 6 am.
The domestic prices of petrol and diesel are determined broadly by the rates of crude oil overseas and rupee-dollar in the forex market. The rates vary from city to city depending on local taxes and transportation cost.
On Thursday, the prices of petrol and diesel were reduced by 5-6 paise per litre in Delhi and Mumbai. Thursday's revision in petrol prices in the metros marks the first reduction since April 21.
In April, petrol and diesel prices in the metros were hiked by 0.4 per cent and 0.9 per cent respectively.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
