Petrol and diesel price today: Prices of petrol and diesel eased across the country on Tuesday, August 24, 2021, after remaining steady for a day. In the national capital, the petrol price fell 15 paise while that of diesel slipped 15 paise.
Following the latest price revision, petrol in Delhi is now retailing at Rs 101.49 a litre while diesel is selling at Rs 88.92. In the financial capital Mumbai, petrol price now stands at Rs 107.52 while diesel costs Rs 96.48, data available on Indian Oil Corporation’s website showed.
This marks the second cut in petrol prices in August while diesel rates have been reduced on five instances. In July, petrol prices were hiked nine times while diesel rates were raised on five occasions and cut on one occasion. In June, both the auto fuel prices were hiked on 16 occasions, which followed the 16 hikes in the month of May after the oil marketing companies (OMCs) resumed their price revisions ending an 18-day hiatus that coincided with the assembly elections in key states. Since May 4, petrol price has increased by Rs 11.09 per litre and diesel has climbed by Rs 8.19 in New Delhi.
Auto fuel prices in the country differ from state to state depending on the local taxation (VAT) and freight charges. Apart from this, the central government charges an excise duty on auto fuels.
OMCs revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15-days and foreign exchange rates.
In the global market, oil prices rose on Tuesday after the US drug regulator granted full approval to the Pfizer Inc/BioNTech SE COVID-19 vaccine, stoking investor hopes that higher fuel demand would follow a potential rise in US coronavirus vaccination rates, news agency Reuters reported.
Brent crude oil futures were up 46 cents (0.7 per cent) to $69.21 a barrel by 0648 GMT, while US West Texas Intermediate (WTI) had gained 34 cents (0.5 per cent) to $65.98, the report said.
Here’s what you pay for a litre of petrol and diesel in your city on Tuesday, August 24, 2021:
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|