Petrol, Diesel Prices Today: Crude oil prices eased on Wednesday, after rising sharply in the previous session, with Brent crude trading at $107.82 a barrel and West Texas Intermediate crude at $104.86 a barrel.
Both benchmarks had climbed more than $3 on Tuesday, September 15, reaching their highest settlement levels since May 19.
The latest decline was driven by an unexpected rise in US crude inventories, which raised concerns about demand and near-term supply availability. Data from the American Petroleum Institute showed US crude stocks increased by 7.1 million barrels in the week ended September 11, against expectations of a 1.6-million-barrel draw. However, the fall in prices remains limited by supply disruptions in Saudi Arabia, keeping crude benchmarks above the $100-a-barrel mark.
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In India, domestic petrol and diesel prices remain under focus as elevated international crude prices could add pressure on fuel marketing companies. However, there has been no fresh nationwide announcement of a change in retail petrol or diesel prices so far on Wednesday.
Petrol Prices On September 16
Petrol price in Delhi: Rs 102.12/litre
- Petrol price in Kolkata: Rs 113.51/litre
- Petrol price in Mumbai: Rs 111.21/litre
- Petrol price in Chennai: Rs 107.77/litre
- Petrol price in Hyderabad: Rs 115.69/litre
- Petrol price in Bengaluru: Rs 110.89/litre
Diesel Prices On September 16
Diesel price in Delhi: Rs 95.20/litre
- Diesel price in Kolkata: Rs 99.82/litre
- Diesel price in Mumbai: Rs 97.83litre
- Diesel price in Chennai: Rs 99.55/litre
- Diesel price in Hyderabad: 103.82/litre
- Diesel price in Bengaluru: 98.80/litre
What Drives Petrol and Diesel Prices?
State-run oil marketing companies have kept domestic fuel prices unchanged since May end, and not let the volatility in international crude prices affect domestic customers. Having said that, they also consider multiple factors such as the rupee-dollar exchange rate, refining costs, taxes, and dealer margins for determining domestic fuel prices, not just international crude prices.
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