The prices of petrol and diesel prices witnessed a downward trend on Thursday, February 13. According to the Indian Oil website, the petrol rates remained unchanged while diesel prices were slashed by up to 0.5 paise across major metro cities of the country.
After today’s (Thursday) rate revision, petrol rates are Rs 71.94 per litre in Delhi, Rs 77.60 per litre in Mumbai, Rs 74.58 per litre in Kolkata, and Rs 74.73 per litre in Chennai, respectively. On the other hand, the diesel prices in Delhi, Mumbai, Kolkata, and Chennai remained at Rs 64.82, Rs 67.93, Rs 67.14, and Rs 68.45 per litre, respectively.
In Noida, petrol is retailing at Rs 78.83 a litre, while diesel price is Rs 65.08 a litre. The price of petrol in Gurugram is Rs 72.01 a litre while diesel was selling at Rs 64.19 a litre.
India is 84 per cent dependant on imports to meet its oil needs and any spike in global prices has a direct bearing on its economy. Not just imports but even domestic crude oil—which forms the raw material for making petrol, diesel and other petroleum products—is priced according to international benchmarks. Middle East accounts for more than two-thirds of the country’s oil imports, with Iraq and Saudi Arabia being the top suppliers.
Why Petrol, Diesel Prices Change Every Day?
The fuel prices are in India are revised daily. Petrol and diesel prices are revised every day at 06:00 am to sync it with the variation in global oil prices. Oil marketing companies (OMC) review the global fuel prices and decide petrol and diesel daily. Indian Oil