Diesel Price Today: Diesel prices hiked, petrol remains unchanged

Diesel Price Today: Diesel prices hiked, petrol remains unchanged

Diesel price on Friday was hiked by 20 paise per litre – the first increase in over two months – as international oil prices soared.

Price of diesel went up to Rs 88.82 per litre in Delhi and to Rs 96.41 in Mumbai.

Petrol price remained unchanged – at Rs 101.19 a litre in Delhi and Rs 107.26 in Mumbai.

State-owned Indian Oil Corp (), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd () hadn’t revised fuel rates since September 5 despite a surge in international oil prices.

On Friday, global benchmark Brent crude rose to $77.50 a barrel as crude inventories shrunk from Europe to the US. Oil rates are up 2% for the week and this is the fifth weekly gain.

Since the last price revision on September 5, the price of petrol and diesel in the international market is higher by around $6-7 per barrel as compared to average prices during August.

Average international crude oil prices had fallen by more than $3 per barrel in August as compared to the previous month. This came against the backdrop of mixed economic data from the US and China and mobility restrictions in Asia fuelled by the fast-spreading Delta variant.

Accordingly, retail prices of petrol and diesel in the Delhi market were reduced by Rs 0.65 a litre and Rs 1.25 per litre by oil marketing companies from July 18 onwards. The last downward revision was on September 5.

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