Currently, petrol and diesel prices are reviewed on a daily basis
Petrol, Diesel Price Today: State-run oil marketing companies retained petrol and diesel prices at existing levels in the metros on Friday. In Delhi, the price of petrol stood at Rs 80.43 per litre and that of diesel at Rs 73.56 per litre, and in Mumbai, Rs 87.19 per litre and Rs 80.11 per litre respectively, according to notifications from Indian Oil Corporation. Currently, oil marketing companies such as Indian Oil Corporation - the country's largest fuel retailer - review the prices of petrol and diesel in different parts of the country on a daily basis, and implement any revisions with effect from 6 am.
While petrol prices have been steady for more than a month, diesel rates have been revised on many occasions.
Last Friday, the price of diesel was reduced by more than Rs 8 per litre in the national capital, after the Delhi government slashed the VAT or value added tax applicable to the fuel to 16.75 per cent from 30 per cent.
Here are the current petrol and diesel prices (in rupees per litre) in the four metros:
| City | Petrol | Diesel |
|---|---|---|
| Delhi | 80.43 | 73.56 |
| Kolkata | 82.05 | 77.06 |
| Mumbai | 87.19 | 80.11 |
| Chennai | 83.63 | 78.86 |
| (Source: Indian Oil) | ||
Currently, petrol and diesel prices are determined broadly by crude oil and forex rates, and vary from state to state due to factors such as VAT.
Meanwhile, crude oil prices hovered below five-month highs on Thursday, falling after a session in which bearish sentiment about fuel demand counteracted optimism about Iraq's supply cuts, pushing the benchmarks in and out of positive territory.
Brent crude - the global benchmark for crude oil - closed down 0.18 per cent at $45.09 per barrel.
The rupee ended flat at 74.93 against the US dollar on the same day.
