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Currently, petrol and diesel prices are determined broadly by crude oil and forex rates.
Petrol, Diesel Prices Today: Petrol and diesel prices in the metros remained unchanged for the seventh consecutive day, on Wednesday, February 3. In the national capital, the price of petrol remained unchanged at Rs 86.30 per litre and diesel was steady at Rs 76.48 per litre, according to Indian Oil Corporation, the country’s largest fuel retailer. Meanwhile, in Mumbai, the petrol and diesel prices are at Rs 92.86 per litre and Rs 83.30 per litre respectively, the highest among all four metros. (Also Read: How To Check Latest Petrol And Diesel Rates In Your City)
Here are the current prices of petrol and diesel (in rupees per litre):
| City | Petrol | Diesel |
|---|---|---|
| Delhi | 86.30 | 76.48 |
| Mumbai | 92.86 | 83.30 |
| Chennai | 88.82 | 81.71 |
| Kolkata | 87.69 | 80.08 |
| Source: Indian Oil | ||
Petrol and diesel prices have recorded an upswing since January 6, 2021, after staying unchanged for almost a month. Fuel rates have increased amid a rally in global crude oil prices, with COVID-19 vaccination drives beginning across the world.
Oil marketing companies – Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum align the prices of domestic fuel with the global benchmarks, by taking into account any alterations in the foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.
Meanwhile, oil prices rose 2 per cent on Tuesday, reaching their highest in 12 months after major producers showed they were reining in output roughly in line with commitments.
Brent crude settled up $1.11, or 2 per cent, at $57.46 a barrel, its third straight day of gains. During the session, it touched $58.05, the highest since January last year.
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