Petrol, Diesel Prices Unchanged Today After Price Cut. Know the Rates

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Petrol, Diesel Prices Today, September 2, 2021: Brent crude was down by 52 cents, or 0.7 per cent, at $71.07 a barrel by 0134 GMT.

After being reduced by 13-15 paise across the country on Wednesday, petrol and diesel prices remained unchanged on Thursday, September 2. According to the price notification by state-owned oil marketing companies (OMCs), petrol continues to retail at Rs 101.34 in the national capital, whereas diesel is at Rs 88.77.

In Mumbai, petrol costs Rs 107.39 per litre, and diesel is being sold at Rs 96.33 per litre. Notably, even after the latest revision, fuel prices remain the highest in Mumbaiamong four major metros.

In Kolkata, petrol costs at Rs 101.72 per litre and diesel prices at Rs 91.84 per litre in the city. In Tamil Nadu’s capital Chennai, petrol is retailed at Rs 99.08 per litre and diesel at Rs 93.98 per litre. It must be noted that Tamil Nadu government had announced a cut in cess on auto fuel last month.

Auto fuel prices in India depend on international crude oil prices and rupee-dollar exchange rate. State-owned OMCs revise rates of both key fuels on a daily basis by taking the average price of benchmark fuel in the international market. Apart from this, petrol and diesel vary across India and the price difference occurs on account of taxes, cess’ levied by union and state governments such as excise duty, Value Added Tax (VAT), among others.

Meanwhile, after maintaining a strong rally due to fears allayed over demand and production, oil prices fell on Thursday. The decline comes after the Organization of the Petroleum Exporting Countries (OPEC) and allies, together known as OPEC+, stuck with plan to boost crude oil production. The group agreed to keep its policy of gradually returning supply to the market at a time when COVID-19 cases around the world are increasing and many USrefiners remained offline.

In the international markets, after losing 4 cents on Wednesday, Brent crude was down by 52 cents, or 0.7 percent, at $71.07 a barrel by 0134 GMT. The US West Texas Intermediate (WTI) crude also declined 56 cents, or 0.8 percent, to $68.03 a barrel, after rising 9 cents in the previous session, Reuters reported.

Here are the petrol and diesel prices across all major cities in India:

-Delhi

Petrol – Rs 101.34 per litre

Diesel – Rs 88.77 per litre

-Chennai

Petrol – Rs 99.20 per litre

Diesel – Rs 93.38 per litre

-Kolkata

Petrol – Rs 101.72 per litre

Diesel – Rs 91.84 per litre

-Mumbai

Petrol – Rs 107.39 per litre