State-run oil marketing companies kept the petrol and diesel rates unchanged for the 21st straight day on Tuesday, December 29. In the national capital, the price of petrol remained unchanged at Rs 83.71 per litre, and diesel remained constant at Rs 73.87 per litre — the same level as on Monday, according to Indian Oil Corporation, the country’s largest fuel retailer. In Mumbai, petrol and diesel rates were Rs 90.34 per litre and Rs 80.51 per litre respectively. The fuel prices in the financial capital are the highest among the four metros across the country. (Also Read: How To Check Latest Petrol And Diesel Rates In Your City)
Here are the current prices of petrol and diesel (in rupees per litre):
|Source: Indian Oil|
Oil marketing companies in the country – Indian Oil, Bharat Petroleum, and Hindustan Petroleum align the domestic fuel prices with that of global benchmarks by taking into account any alterations in the foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day. The fuel rates vary from state to state due to the value-added tax (VAT).
Meanwhile, oil prices fell on Monday as concerns about weakening fuel demand and the prospect of higher OPEC+ output outweighed optimism over a U.S. stimulus package.
Brent crude settled at $50.86 a barrel, falling 43 cents, or 0.84 per cent, after trading as high as $52.02 earlier in the session. U.S. West Texas Intermediate (WTI) crude settled at $47.62 a barrel, losing 61 cents, or 1.26 per cent.