INSUBCONTINENT EXCLUSIVE:
Petrol and diesel price today: Any revisions in rates are effected at fuel stations at 6 am every day
Petrol prices were marginally lowered on Tuesday, adding to the downward movement
in fuel rates so far this month
Diesel prices were, however, kept steady
The reduction in petrol prices was in the range of 8-12 paise per litre and came after three consecutive days of no change in prices
Tuesday's announcement also marked the second day of steady diesel prices
State-run oil marketing companies Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation currently review
domestic petrol and diesel rates on a daily basis, and announce any changes in rates every morning at 6 am.Here are 10 things to know about
petrol price and diesel price today:1
With effect from 6 am on Tuesday, June 19, petrol prices were at Rs 76.27 per litre in Delhi, Rs 78.94 per litre in Kolkata, Rs 84.06 per
litre in Mumbai and Rs 79.16 per litre in Chennai, according to Indian Oil Corporation
litreDelhi76.2767.78Kolkata78.9470.33Mumbai84.0672.13Chennai79.1671.54Agartala72.0765.92Aizwal72.1965.11Ambala76.3968.29Bangalore77.5168.87B
hopal81.8671.34Bhubhaneswar75.0972.65Chandigarh73.3665.82Dehradun77.6468.11Gandhinagar75.5872.84Gangtok79.369.55Guwahati78.4170.75Hyderabad8
0.7973.67Imphal74.3665.85Itanagar72.1865.07Jaipur79.0172.19Jammu7868.95Jullunder81.4767.7Kohima74.7566.15Lucknow77.1267.93Panjim70.2868.98Pa
tna81.7672.46Pondicherry75.0770.02Port
Blair65.7663.54Raipur76.6873.18Ranchi76.2871.57Shillong75.6767.6Shimla76.4467.42Srinagar80.6971.17Trivandrum79.3772.56Silvasa74.268.6Daman74
.1268.53(Source: iocl.com)2
Union Minister Arun Jaitley on Monday virtually ruled out any cut in excise duty on petrol and diesel, saying it could prove to be
"Reliefs to consumers can only be given by a fiscally responsible and a financially sound central government, and the states which are
earning extra due to abnormal increase in oil prices," news agency Press Trust of India cited Mr Jaitley as saying.4
Petrol and diesel prices have eased somewhat from record highs touched in some cities last month
However, the relief so far this month is to the tune of Rs 2.1 per litre for petrol prices in Delhi, Kolkata, Mumbai and Chennai, compared
with the increase of nearly double the magnitude in the previous month
In case of diesel, the prices so far this month are down about Rs 1.5 per litre in the four metros, compared with the hike of at least Rs 3
per litre in each of the key cities in May.5
and diesel prices higher, among other factors.6
From May 14 to May 29, petrol prices were increased in the range of Rs 3.74-4 a litre and diesel prices raised by Rs 3.23-3.62 a litre
That led to the fuel prices touching all-time highs in some cities including Delhi and Mumbai.7
Domestic petrol and diesel prices are currently determined by crude oil prices and the exchange rate of the rupee against the US dollar
Oil investors have been nervous ahead of an upcoming OPEC (Organization of the Petroleum Exporting Countries) summit in Vienna, due on June
Saudi Arabia and Russia have already boosted production modestly, and have indicated they were prepared to increase output.8
On Tuesday, crude oil prices fell in early Asian trading on expectations that OPEC and key ally Russia will gradually increase output after
withholding supplies since 2017
Brent crude futures, the international benchmark for oil prices, were around $78.05 per barrel, down 0.4 per cent from their last close
At this level, Brent crude oil is off 2.5 per cent from 2014 highs around $80 a barrel touched last month.9
The rupee closed a marginal 2 paise higher at 67.99 against the US dollar on Monday
It had plunged to a fresh three-week low of 68.18 in earlier on Monday.10
Last week, state-run oil companies Indian Oil, Bharat Petroleum and Hindustan Petroleum completed a year of daily review of petrol and
diesel prices across the country
Prior to June 16, 2017, petrol and diesel prices were revised on twice-a-month basis
The switch to the daily system of price reviews was aimed at a more rapid transmission of changes in global oil rates to the domestic
