Fuel Prices: Domestic petrol and diesel prices vary across states due to value added tax (VAT).
Petrol, Diesel Prices Today: The petrol and diesel prices were steady on Wednesday February 24 after touching fresh record highs in the previous session. In Delhi, the price of petrol was steady at Rs 90.93 per litre and diesel was untouched at Rs 81.32 per litre, according to Indian Oil Corporation, the country’s largest fuel retailer. Meanwhile, in Mumbai, the petrol and diesel rates remained at Rs 97.34 per litre and Rs 88.44 per litre respectively. Currently, among the four metro cities, the fuel rates are the highest in Mumbai. (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 | 90.93 | 81.32 |
| Mumbai | 97.34 | 88.44 |
| Chennai | 92.90 | 86.31 |
| Kolkata | 91.12 | 84.20 |
| Source: Indian Oil | ||
Petrol and diesel prices have recorded an upswing since January 6, 2021, after staying unchanged for almost a month. The fuel prices have increased amid a rally in global crude oil prices, with coronavirus vaccination drives across the world.
Oil marketing companies – Bharat Petroleum, Indian Oil Corporation, as well as Hindustan Petroleum align the rates of domestic fuel with the global benchmarks, by taking into account any changes in the foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.
Meanwhile, oil prices fell in early trade on Wednesday after industry data showed U.S. crude inventories unexpectedly rose last week as a deep freeze in the southern states curbed demand from refineries that were forced to shut.
U.S. West Texas Intermediate (WTI) crude futures were down 55 cents or 0.9 per cent at $61.12 a barrel at 0136 GMT, after slipping 3 cents on Tuesday. Brent crude futures fell 38 cents, or 0.6 per cent, to $64.99 a barrel, erasing Tuesday’s 13 cents gain.
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