What are today’s fuel rates for your city?, ET EnergyWorld

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New Delhi: On Friday, the prices of petrol and diesel are unchanged in most cities, including the four metros, while minor revision has been seen in case of individual places.

According to oil marketing companies, petrol in Delhi is being sold at Rs 96.72 a litre while diesel is being sold at Rs 89.62 a litre. Whereas in Mumbai, petrol is available at Rs 106.31 and diesel at Rs 94.27 per litre. While petrol in Kolkata is Rs 106.03 and diesel is Rs 92.76 per litre. On the other hand, petrol is being sold at Rs 102.63 and diesel at Rs 94.24 per litre in Chennai.

At present, petrol in Noida has become Rs 96.79 and diesel Rs 89.96 per litre. In Ghaziabad, the price of diesel has become Rs 96.58 per litre and diesel has become Rs 89.75 per litre. In Lucknow, petrol has become Rs 96.57 and diesel Rs 89.76 per litre. In Patna, petrol has become Rs 107.24 and diesel Rs 94.04 per litre. In Chandigarh, diesel has become Rs 96.20 per litre and diesel Rs 84.26 per litre. Petrol in Bhopal has become Rs 108.65 and diesel Rs 93.90 per litre. Petrol in Port Blair has become Rs 84.10 and diesel Rs 79.74 per litre.

In India, oil marketing companies (OMCs) – Bharat Petroleum, Hindustan Petroleum, Indian Oil – decide petrol and diesel prices, doing so on a daily basis; the daily review practice began in June 2017. The rates, whether revised or unchanged, are announced at 6am each day.

The pricing of fuels in India is regulated by the central government and is influenced by factors like excise duty, base prices, and price caps. Excise duty collection is managed by the central government, while Value Added Tax (VAT) collection falls under the purview of individual states. Due to the application of varying VAT rates by each state, fuel prices can diverge accordingly.

Meanwhile, on the international front, the oil prices climbed on Friday to their highest this year, as expectations of tighter supply outweighed worries about weaker economic growth and rising U.S. crude inventories.

Brent crude rose $1.82, or 1.98%, to settle at $93.70, after touching $93.89, its highest since November 2022.

U.S. West Texas Intermediate crude (WTI) gained $1.64, or 1.85%, to $90.16, closing above $90 for the first time since November.

India imports about 85% of its oil needs and so domestic pump rates are dependent on international prices, as denominated by the Indian basket of crude oil.

  • Published On Sep 15, 2023 at 11:40 AM IST

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