State-run oil marketing companies kept the petrol and diesel rates unchanged for the 22nd straight day on Wednesday, December 30. In the national capital, the price of petrol remained steady at Rs 83.71 per litre and diesel was constant at Rs 73.87 per litre — the same level as on Tuesday, 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 gained more ground on Wednesday as a U.S. coronavirus fiscal aid package and expectations of global economic recovery lifted hopes for higher fuel demand.
U.S. West Texas Intermediate (WTI) crude futures rose 27 cents, or 0.6 per cent, to $48.27 a barrel, as of 0114 GMT, while Brent crude futures added 24 cents, or 0.5 per cent, to $51.33 a barrel.