Currently, petrol and diesel prices are determined broadly by crude oil and forex rates.
Petrol, Diesel Prices Today: Petrol and diesel prices remained unchanged across the four metros for 15 days in a row on Sunday, March 14. The state-run oil refiner Indian Oil had last raised fuel prices on February 27 to an all-time high of Rs 91.17 in the national capital. Since then, fuel rates have been steady across all four metro cities. As of now, the highest fuel prices are in Mumbai where petrol is at Rs 97.57 per litre and diesel at Rs 88.60 per litre. (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 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 revisions in the foreign exchange rates. Any changes in fuel rates are implemented with effect from 6 am each day. The domestic petrol and diesel prices vary across states due to the value-added tax (VAT).
Fuel rates have registered a hike since January 2021 due to the rally in global crude oil prices. Meanwhile, on Friday, March 12, the global oil benchmark Brent crude futures fell 0.13 per cent to $69.53 per barrel. The rupee gained 12 paise to settle at 72.79 against the US dollar amid some easing of global crude oil prices.
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