Petrol, Diesel Rates Today: The upwards trend in petrol and diesel prices continued on Friday. While the rate of one litre of petrol rose by an average of 35-37 paise, diesel saw an average increase of 28-30 paise. It means the price of petrol has seen an average increase of more than one rupee in last four days. The petrol and diesel prices in India are rising after spike in global oil prices following attacks on Saudi Arabian crude oil facilities.
Oil prices shot higher Thursday on fresh supply concerns in the Middle East, while stocks climbed on the US Federal Reserve's decision to cut interest rates. Brent oil jumped nearly over 1.5 per cent as traders seized on resurfacing tensions in the crude-rich Middle East. The market had surged at the start of the week after drone attacks at Saudi oil facilities on Saturday. Traders remain on red alert for further developments, including the US and Saudi response, with both putting the blame at Iran's door.
Fuel (Petrol, Diesel, CNG) Rates In Indian Cities
The price of petrol increased by 35 paise per litre to Rs 73.06 and price of diesel rose by 28 paise to Rs 66.29 per litre in Delhi on Thursday. The price of CNG is Rs 47.10 in Delhi this month.
In Noida, petrol is retailing at Rs 74.77 a litre. Diesel price in Noida rose to Rs 66.60 a litre, as per data from Indian Oil Corporation website. The price of CNG is Rs 52.95 in Noida. The price of petrol in Gurugram went up to Rs 72.91 a litre while diesel was selling at Rs 65.56 per litre. The price of CNG is Rs 58.45 in Gurugram.
People in Mumbai will have to pay Rs 78.73 for a litre of petrol while a litre of diesel will cost Rs 69.54 per litre. In Chennai, the retail price of petrol price was increased to Rs 75.93 a litre. Diesel costs Rs 70.07 a litre. In Kolkata, petrol is retailing at Rs 75.77 a litre on Friday while diesel price climbed to Rs 68.70.
Why Fuel Prices Change Every Day?
The fuel prices are in India are revised on a daily basis. Petrol and diesel prices are revised every day at 06:00 am to sync it with the variation in global oil prices. When international crude oil prices gain, prices in India move higher. Other factors also impact the price of fuel like rupee to US dollar exchange rate, cost of crude oil, global cues, demand for fuel, and so on.
Why Fuel Prices Differ In Every City?
Price of fuel includes excise duty, value added tax (VAT), and dealer commission. As VAT varies from state to state, the price of fuel is different in every city.