Petrol and diesel prices came down on Tuesday (Photo Credit: PTI File)
Petrol Rate, Diesel Rate Today (October 15): The petrol and diesel prices came down a little on Tuesday, October 15. The price of petrol and diesel came down by 5 paise today with state-run oil marketing companies reducing the rates. Crude oil futures fell 0.39 per cent to Rs 3,854 per barrel on Monday after participants reduced positions amid a weak trend in global markets. On the Multi Commodity Exchange, crude oil for delivery in October shed Rs 15, or 0.39 per cent, to Rs 3,854 per barrel with a business volume of 21,539 lots. Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid weak global cues. Brent Crude, the international benchmark, fell 1.16 per cent to trade at USD 59.81 per barrel.
Petrol and diesel prices have fallen in the last few days after more than two weeks of upward movement that started after a drone attack on Saudi Arabia’s crude oil processing facilities on September 14. However, the fuel prices are still above the pre-attack marks of Rs 71.97 a litre for petrol and Rs 65.37 a litre for diesel in Delhi.
Fuel (Petrol, Diesel, CNG) Rates In Indian Cities
According to the fuel price data available on the website of Indian Oil Corporation Ltd (IOCL), the petrol prices in Delhi came down by 5 paise at Rs 73.27 per litre on Tuesday, while diesel price also came down by 5 paise to Rs 66.41 per litre today.
In Mumbai, the rate of one litre of petrol is Rs 78.88 per litre on Tuesday- down 5 paise from yesterday. A litre of diesel is priced at Rs 69.61 per litre in Mumbai. In Chennai, the retail price of petrol is Rs 76.09 a litre, while diesel was being sold at Rs 70.15 a litre. In Kolkata, petrol rate is down to Rs 75.92 a litre today, while diesel price is at Rs 68.77 a litre today.
In Noida, petrol is retailing at Rs 74.89 a litre, while diesel price reduced to Rs 66.67 a litre. The price of petrol in Gurugram is Rs 73.09 a litre while diesel was selling at Rs 65.62 a litre.
CNG Prices Cut In Delhi-Noida, Discount On Fuelling At Night
The price of CNG is Rs 45.20 a kg in Delhi this month. The price of CNG is Rs 51.35 a kg in Noida while CNG is priced at Rs 58.95 per kg in Gurugram. In order to promote CNG fuelling at night, IGL will also offer a discount of Rs 1 per kg on selling prices of CNG for filling between 12 am to 6 am at select outlets.
Why Petrol, Diesel 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. Oil maketing companies (OMC) review the global fuel prices and decide petrol and diesel daily. Indian Oil, Bharat Petrolium and Hindustan Petrolium release the new rates at 6 am every morning. Generally, 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.