State-run oil marketing companies kept the petrol and diesel prices unchanged day on Monday, January 2, 2021. The fuel rates have now remained unchanged for 27 days in a row. In the national capital, the price of petrol remained the same at Rs 83.71 per litre and diesel was steady at Rs 73.87 per litre — the same level as on Sunday, according to Indian Oil Corporation, the country’s largest fuel retailer. In Mumbai, petrol and diesel prices were the same, at Rs 90.34 per litre and Rs 80.51 per litre respectively. The fuel rates 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|
The oil marketing companies – Indian Oil, Bharat Petroleum, and Hindustan Petroleum align the domestic fuel prices with that of global benchmarks by taking into account any revisions 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 in the country due to the value-added tax (VAT).
Meanwhile, oil prices edged lower on Monday, the first day of 2021 trading, ahead of a meeting of OPEC and allied producers to discuss output levels for February with fears for first-half demand seeping into the market as the coronavirus pandemic lingers.
Brent crude for March was at $51.76 a barrel, down 4 cents or 0.08%, by 0038 GMT while U.S. West Texas Intermediate crude for February fell 9 cents, or 0.2%, to $48.43 a barrel.