On Monday, price of petrol was increased by 5 paise per litre and diesel by 10 paise per litre. Retail prices of the two automobile fuels are revised daily. Prices vary across the country due to differences in levies imposed by states.
In Mumbai, petrol is priced at Rs 80.65 and diesel Rs 69.27. One ltr of diesel costs 66.04 rupees in Delhi, 66.23 rupees in Kolkata, and 67.96 rupees in Chennai. On the other hand, One ltr of petrol is priced at 75.00 rupees in Delhi, 72.75 rupees in Kolkata, and 73.19 rupees in Chennai.
Currently, domestic petrol and diesel prices are reviewed by oil marketing companies such as state-run Indian Oil Corporation on a daily basis. Any revisions are implemented at the fuel stations with effect from 6 am.
According to Live Mint, petrol, diesel rates are expected to increase further following a spike in crude oil rates after Saudi Arabia announced its decision to significantly cut crude oil production. Crude oil rates were now trading near the highest level in almost 3 months.
