Petrol and diesel rates are reviewed on a daily basis to keep them aligned with crude oil and forex rates
Diesel prices in metros were lowered on Sunday after a day's pause while petrol rates were kept unchanged for a fifth straight day. With effect from 6 am on Sunday, February 16, the price of petrol stood at Rs 71.94 per litre in Delhi and Rs 77.6 per litre in Mumbai - the same levels as the previous day, while that of diesel was revised to Rs 64.7 per litre and Rs 67.8 per litre respectively (from Rs 64.77 per litre and Rs 67.87 per litre the previous day), according to Indian Oil Corporation. (Also read: How To Receive Latest Petrol, Diesel Rates In SMS)
Here are the current prices of petrol and diesel (in rupees per litre) in the four metros with effect from 6 AM, February 16:
| City | Petrol | Diesel |
|---|---|---|
| Delhi | 71.94 | 64.7 |
| Kolkata | 74.58 | 67.02 |
| Mumbai | 77.6 | 67.8 |
| Chennai | 74.73 | 68.32 |
| (Source: iocl.com) | ||
Currently, the prices of petrol and diesel vary from city to city depending on local taxes. Oil marketing companies such as state-run Indian Oil Corporation - the country's largest fuel retailer - review the rates on a daily basis, and adjust the rates depending on crude oil rates overseas and the rupee-dollar foreign exchange rate.
The rupee edged lower to end at 71.37 against the US dollar on Friday amid rising crude oil prices, ending the week with a gain of 3 paise against the greenback.
On the same day, international crude oil prices rose over 1 per cent to post their first weekly gain since early January. Brent crude - the global benchmark for crude oil - rose 1.74 per cent to settle at $57.32 a barrel, registering a weekly gain of 5.23 per cent.
