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Diesel Prices Cut By 13-14 Paise On Sunday, Petrol Unchanged For Third Day

Currently, petrol and diesel prices are determined broadly by crude oil and forex rates.

Diesel prices were cut by 13-14 paise in metros on Sunday, marking a third straight day of downward revision, whereas petrol rates were maintained at existing levels. In Delhi, the price of diesel was lowered to Rs 70.80 from Rs 70.94 per litre, with effect from 6 am on September 27, but that of petrol was left unchanged at Rs 81.06 per litre, according to notifications from Indian Oil Corporation. In Mumbai, petrol and diesel rates were Rs 87.74 per litre and Rs 77.22 per litre on Saturday. 

Currently, fuel rates vary in different parts of the country due to local taxes. Oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum review the prices of petrol and diesel on a daily basis, and implement any changes with effect from 6 am.  (Also Read: How To Find Latest Petrol, Diesel Rates In Your City)

Here are the prices of petrol and diesel (in rupees per litre) in the four metros on September 27:

City Petrol Diesel
Delhi 81.06 70.80
Mumbai 87.74 77.22
Chennai 84.14 76.27
Kolkata 82.59 74.32
Source: Indian Oil

The three state-run companies revise petrol and diesel rates from time to time to align them with global benchmark oil prices and the rupee-dollar exchange rate.

Oil edged lower on Friday, falling more than 2% on the week as COVID-19 cases surged globally and oil supply is set to rise in coming weeks.

Brent crude futures settled at $41.92 a barrel, down 2 cents, while U.S. West Texas Intermediate (WTI) crude futures lost 6 cents to $40.25 a barrel. Brent dropped 2.9 per cent for the week and WTI sunk 2.1 per cent.

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