Petrol, Diesel Rates Cut Up To 18 Paise Across Metros On Wednesday

Petrol, Diesel Prices Today: Petrol and diesel prices were cut across the four metros on Wednesday March 24, after being kept steady for 23 straight days. Indian Oil Corporation had last increased fuel prices on February 27 to an all-time high of Rs 91.17 in the national capital. In Delhi, the price of petrol has been reduced by 18 paise from Rs 91.17 per litre to Rs 90.99 per litre and diesel has been cut by 17 paise from Rs 81.47 per litre to Rs 81.30 per litre. The revised rates of petrol and diesel in Mumbai stand at Rs 97.40 per litre and Rs 88.42 per litre respectively, according to the state-run oil refiner  (Also Read: How To Find Latest Petrol, Diesel Rates In Your City)

Here are the latest petrol and diesel prices across the four metros:

The domestic petrol and diesel rates vary across states due to the value-added tax. The oil marketing companies – Bharat Petroleum, Indian Oil Corporation, as well as Hindustan Petroleum align the prices of domestic fuel with the global benchmarks, by taking into account any changes in the foreign exchange rates. Any changes in fuel rates are implemented with effect from 6 am each day. 

Meanwhile, oil prices edged higher on Wednesday as investors looked for bargains following the previous day’s plunge, but gains were capped as pandemic lockdowns in Europe and a build in U.S. crude stocks curbed risk appetite and raised oversupply fears.

Brent crude futures rose 27 cents, or 0.4 per cent, to $61.06 a barrel by 0108 GMT. West Texas Intermediate (WTI) crude futures climbed 19 cents, or 0.3 per cent, to $57.95 a barrel.