Petrol and diesel prices remained unaffected across the four metro cities on Thursday, August 26, after both key fuel prices were marginally slashed earlier this week. On Tuesday, both auto fuel prices became slightly cheaper as petrol prices received a 14-15 paise per litre cut, while diesel rate by 15-16 paise a litre.
After the latest revision, a litre of petrol costs Rs 101.49 in the national capital. On Thursday, the price of a litre of diesel was Rs 88.92 per litre.
In Mumbai, petrol currently is retailed at Rs 107.52 per litre, while diesel retailing at Rs 96.48 a litre.
Meanwhile, Chennai remains the cheapest among the four metros, as petrol is priced at Rs 99.20. It must be noted that the Tamil Nadu government had earlier announced a cut in cess on auto fuel in July 2021. Meanwhile, the price of a litre of diesel was Rs 93.52 on Thursday.
A litre of precious auto-fuel remained static at 101.82 in Kolkata, while diesel witnessed a similar trend at Rs 91.98 a litre.
Petrol and diesel price surged to an all-time record high in India this year. A litre of precious auto-fuel was hiked by Rs 11.44, while diesel witnessed an increase of Rs 9.41 per litre between May and July this year. This continuous increase propelled petrol over Rs 100-per-litre mark in many states, while the rates of diesel too breached the Rs 100 mark in at least three states.
Petrol is currently retailing at over Rs 100-per-litre in at least 19 states across the country including Delhi, Andhra Pradesh, Odisha, Jammu and Kashmir, Karnataka, Ladakh, Madhya Pradesh, Maharashtra, Rajasthan, Telangana, Uttar Pradesh and West Bengal.
The price of auto fuel in India hinges on international crude oil prices and the rupee-dollar exchange rates. Apart from this, the Union and state government levied various taxes such as excise duty, Value Added Tax (VAT) and freight charges. State-owned oil marketing companies revise rates of both key fuels daily based on the average price of benchmark fuel in the international market.
Meanwhile, after maintaining a strong rally earlier this week, crude oil prices fell on Thursday, amid renewed apprehensions about demand recovery as several restrictions are being imposed to curb COVID-19 infections.
After having risen 1.7 per cent on Wednesday, Brent crude oil futures fell by 45 cents, or 0.6 per cent, at $71.80 a barrel by 0222 GMT. The US West Texas Intermediate (WTI) witnessed a similar trend as crude futures fell by 55 cents, or 0.8 per cent, to $67.81 per barrel, after earning 1.2% in the previous session, Reuters reported.
Here are the prices of diesel and petrol in a few metros and few cities across the country:
Petrol - Rs 107.52 per litre
Diesel - Rs 96.48 per litre
Petrol - Rs 101.49 per litre
Diesel - Rs 88.92 per litre
Petrol - Rs 99.20 per litre
Diesel - Rs 93.52 per litre
Petrol - Rs 101.82 per litre
Diesel - Rs 91.98 per litre
Petrol - Rs 109.91 per litre
Diesel - Rs 97.72 per litre
Petrol - Rs 105.54 per litre
Diesel - Rs 96.99 per litre
Petrol - Rs 104.98 per litre
Diesel - Rs 94.34 per litre
Petrol - Rs 98.56 per litre
Diesel - Rs 89.29 per litre
Petrol - Rs 98.52 per litre
Diesel - 96.00 per litre