Petrol and diesel price today: Prices of petrol and diesel remained unchanged across the country for the third straight day on Friday, August 27, 2021. Earlier this week on Tuesday, petrol and diesel prices were cut by 15 paise per litre each in the national capital.
The price of petrol in Delhi stands at Rs 101.49 per litre while that of diesel is at Rs 88.92. In Mumbai, petrol currently costs Rs 107.52, while diesel is retailing at Rs 96.48, data available on Indian Oil Corporation’s website showed.
So far in August, petrol prices have been cut twice 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.
In India, the fuel prices 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.
The 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 international market, oil prices rose on Friday, on track to post big gains for the week, on worries about near term supply disruptions as energy companies began shutting in production in the Gulf of Mexico ahead of a potential hurricane forecast to hit on the weekend, news agency Reuters reported earlier in the day.
US West Texas Intermediate (WTI) crude futures climbed 16 cents (0.2 per cent) to $67.58 a barrel at 0111 GMT, clawing back a 1.4 per cent loss on Thursday. WTI is headed for a weekly gain of more than 8 per cent, which would be its strongest rise since early February. Brent crude futures similarly rose 16 cents (0.2 per cent) to $71.23 a barrel, after falling 1.6 per cent on Thursday. Brent is on track for a rise of more than 9 per cent this week, its biggest weekly jump since June 2020 mostly on relief that China has contained an outbreak of the Delta variant, the report said.
Here’s what you pay for a litre of petrol and diesel in your city on Friday, August 27, 2021:
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|