Currently, petrol and diesel prices are determined broadly by crude oil and forex rates.
Petrol, Diesel Prices Today: Petrol and diesel prices touched fresh highs across the metros on Wednesday,February 10, after oil marketing companies increased the rates by up to 30 paise for the second straight day. The price of petrol was hiked by 30 paise from Rs 87.30 per litre to Rs 87.60 per litre, and diesel rate was increased from Rs 77.48 per litre to Rs 77.73 per litre in Delhi, according to Indian Oil Corporation, the country’s largest fuel retailer. Meanwhile, in Mumbai, the revised petrol and diesel rates stood at Rs 94.12 per litre and Rs 84.63 per litre respectively, the highest among all four metros. (Also Read: How To Check Latest Petrol And Diesel Rates In Your City)
Here are the current prices of petrol and diesel (in rupees per litre):
| City | Petrol | Diesel |
|---|---|---|
| Delhi | 87.60 | 77.73 |
| Mumbai | 94.12 | 84.63 |
| Chennai | 89.96 | 82.90 |
| Kolkata | 88.92 | 81.31 |
| Source: Indian Oil | ||
Petrol and diesel prices have recorded an upswing since January 6, 2021 after staying unchanged for almost a month. The fuel rates have increased amid a rally in global crude oil prices, with COVID-19 vaccination drives beginning across the world.
Oil marketing companies – Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum align the prices of domestic fuel with the global benchmarks, by taking into account any changes in the foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.
Meanwhile, oil prices rose again on Wednesday, extending their more than week-long rally after industry data showing a fall in U.S. crude oil stocks added to optimism about an expected rise in global fuel demand.
Brent crude was up by 11 cents, or 0.2 per cent at $61.20 by 0110 GMT after rising nearly 1 per cent on Tuesday, when it touched a 13-month high. U.S. crude added 2 cents to $58.28.
