OIL & GAS

Petrol, diesel price today: Fuel rates remain steady for two weeks| Check the latest city-wise rate

The prices of petrol and diesel remained unaltered on July 31, 2021, for two consecutive weeks. The state-run oil marketing companies (OMCs) have not changed the prices of petrol and diesel on Saturday. However, the cost of petrol in all the metro cities is above the Rs 100-a-litre mark.

The cost of a litre of petrol stands at Rs 101.84 in Delhi, whereas diesel is retailing at Rs 89.87 per litre. In Mumbai, the petrol price has remained steady and is retailing at Rs 107.83 per litre and diesel is being sold at Rs 97.45 per litre. In Tamil Nadu’s capital, Chennai, petrol is priced at Rs 101.49 per litre and the rate of a litre of diesel is retailing at Rs 94.39 per litre. The petrol prices remained unchanged in Kolkata and it stands at Rs 102.08 per litre and diesel is priced at Rs 93.02 per litre.

According to the official statement released by the government in the parliament, the prices of petrol and diesel have been made market determined by June 26, 2010, and October 19, 2014, respectively. Since then, the public sector oil marketing companies have been taking decisions regarding the pricing of petrol and diesel on the basis of international product prices and other market conditions.

Petrol and diesel rates remained unchanged since July 18
There has been no change in the rates of petrol and diesel since July 18. On July 17, petrol prices saw a hike in major cities, but diesel rates have remained unaltered since July 15, 2021.

In India, petrol and diesel prices also depend on various factors like valuation of INR against USD, consumption ratio of refineries and demand for fuel. The fuel prices are revised by oil marketing companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum based on international prices in the preceding 15 days and foreign stock exchange.

Fuel rates in major Indian cities:

CITY PETROL PRICES (per litre) DIESEL PRICES (per litre
New Delhi Rs 101.84 Rs 89.87
Mumbai Rs 107.83 Rs 97.45
Chennai Rs 101.49 Rs 94.39
Kolkata Rs 102.08 Rs 93.02
Source
India Today
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