Petrol, Diesel prices saw another big rise in India on Tuesday, September 17. The rate of Petrol was up by an average of 14 paise, while Diesel rate increased by 15 paise in major cities of India.
Fuel (Petrol, Diesel, CNG) Rates In Indian Cities
In Delhi, after today’s rate revision, petrol prices were at Rs 72.17 compared to Rs 78.03 a litre on Monday while diesel price climbed to Rs 65.68 up from Rs 65.43 per litre on Monday, as per data from Indian Oil Corporation website.
In Noida, petrol is retailing at Rs 74.07 a litre. Diesel price in Noida rose to Rs 65.89 a litre. The price of CNG went up by 1 rupee- Noida CNG price is Rs 52.95 on Tuesday.
The price of CNG is Rs 58.45 in Gurugram. The price of petrol in Gurugram went up to Rs 72.27 a litre while diesel was selling at Rs 67.84 per litre.
People in Mumbai will have to pay Rs 77.85 for a litre of petrol while a litre of diesel will cost Rs 68.78 per litre. In Chennai, the retail price of petrol price was increased to Rs 74.99 a litre. Diesel costs Rs 64.96 a litre.
In Kolkata, petrol is retailing at Rs 74.89 a litre on Tuesday while diesel price climbed to Rs 67.99.
Why Petrol, Diesel Prices Are Rising?
Petrol and diesel prices are expected to rise worldwide after last week’s drone attack on Saudi Arabia’s Aramco oil refinery which is the largest oil processing unit in the world. It is expected to affect India’s oil marketing companies including Indian Oil Corp, HPCL and BPCL.
As per a report by Kotak Institutional Equities, the prices of the both petrol and diesel may increase by Rs 5-6 per litre in India.
Why Fuel Prices Change Every Day?
The fuel prices are in India are revised on a daily basis. Petrol 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.
(Disclaimer: This information is based on external sources and News Nation is not responsible for any difference in the rates)