INSUBCONTINENT EXCLUSIVE:
Petrol price, diesel price today: Domestic prices are determined broadly by the crude oil and forex ratesPetrol and diesel prices were hiked
marginally in metros after a gap of two days
While the petrol price in Delhi stood at Rs 70.39 per litre on Thursday, the diesel price was at Rs 65.67 per litre, up 6 paise per litre
and 5 paise per litre compared to the previous day's prices, according to data from Indian Oil Corporation
In Mumbai, the petrol price was at Rs 76.03 per litre and the diesel price at Rs 68.76 per litre with effect from 6 am on Thursday, the
Currently, oil marketing companies such as Indian Oil - the country's largest fuel retailer - review petrol and diesel rates on a daily
basis, and any changes are effected at fuel stations at 6 am.1
In Kolkata, the petrol price was at Rs 72.50 per litre on Wednesday, and the diesel price was at Rs 67.45 per litre
Petrol and diesel prices are determined broadly by the rates of crude oil overseas and rupee-dollar in the forex market.3
Including Thursday's revision, the fuel prices have been hiked 15 times so far this calendar year, and lowered 13 times.4
In Delhi and Mumbai, the petrol prices have been increased by a total Rs 1.55 per litre and Rs 1.56 per litre during this period
In Kolkata, the petrol price has been hiked by Rs 1.54 per litre so far this year, and the diesel prices increased by Rs 2.84 per litre.6
Similarly, in Chennai, the petrol price has been raised by Rs 1.65 per litre so far this year, and the diesel price by Rs 3.02 per litre.7
As per the current system of daily price reviews followed by the oil marketing companies, the domestic fuel prices depend upon international
fuel prices on a fifteen-day average and the value of the rupee against the dollar.8
The fuel rates vary from city to city and from pump to pump depending on local taxes and transportation cost.9
Global crude oil prices have declined more than 26 per cent since the October high of $86.74 a barrel
The rupee has weakened about 1.5 per cent against the dollar so far this calendar year.(With agency inputs)
