Petrol and diesel prices remained unaltered across the country on Tuesday, September 7, two days after rates were cut marginally for the second time this month. After reducing the retail price of petrol by 13 to 15 paise per litre, while diesel rates fell by almost 15 paise, on Sunday, September 5, 2021, state-owned oil marketing companies (OMCs) have not made any changes on Tuesday. Prior to that change, the rates were cut by 10 to 15 paise for petrol, while diesel rates had dropped by 14 to 15 paise on Wednesday, September 1, 2021.
According to the latest price notification by the OMCs, the price of petrol in the national capital remains static at Rs 101.19 and diesel at Rs 88.62 per litre.
At the same time, the price of petrol in Mumbai is fixed at Rs 107.26 per litre and diesel at Rs 96.19 per litre. Notably, even after the dual revisions, fuel prices remain the highest in Mumbai among four major metros.
In Kolkata, petrol costs at Rs 101.62 per litre and diesel prices at Rs 91.71 per litre in the city. In Tamil Nadu’s capital Chennai, retail pump petrol is sold at Rs 98.96 per litre and diesel at Rs 93.26 per litre.
The price of both auto fuels hinges on the price of crude in the international market along with foreign exchange rates. State-run OMCs such as Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the prices daily and any alteration is implemented from 6 am in the morning. It must be noted that the fuel prices in India vary from state to state due to the value-added tax or VAT and other taxes. The bulk of the end retail price comes from the excise duty, value-added tax (VAT) and central government taxes, cess.
Meanwhile, in the international markets, oil prices remained wobbly as investors coped struggled with demand concerns after Saudi Arabia’s sharp cuts to crude contract prices for the Asian markets, Reuters reported.
https://www.reuters.com/business/energy/oil-wobbles-demand-woes-stalk-market-after-saudi-price-cuts-2021-09-07/
After falling 39 cents on Monday, Brent crude futures for November climbed 4 cents, or 0.1%, leaving the final price at $72.26 a barrel by 0056 GMT.
Meanwhile, the U.S West Texas Intermediate crude for October settled at $68.88 a barrel, down 41 cents or 0.6 per cent, from Friday’s close, with no settlement price for Monday due to Labor Day holiday in the United States, the report further cited.
Here are the petrol and diesel prices across all major cities in India:
-Delhi
Petrol – Rs 101.19 per litre
Diesel – Rs 88.62 per litre
-Chennai
Petrol – Rs 99.12 per litre
Diesel – Rs 93.26 per litre
-Kolkata
Petrol – Rs 101.62 per litre
Diesel – Rs 91.71 per litre
-Bhopal
Petrol – Rs 109.63 per litre
Diesel – Rs 97.43 per litre
-Hyderabad
Petrol – Rs 105.26 per litre
Diesel – Rs 96.69 per litre
-Bangaluru
Petrol – Rs 104.70 per litre
Diesel – Rs 94.04 per litre
-Lucknow
Petrol – Rs 98.30 per litre
Diesel – Rs 89.02 per litre
-Gandhinagar
Petrol – Rs 98.26 per litre
Diesel – 95.70 per litre
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