August 20, 2021 4:00:02 pm
Petrol and diesel price today: Prices of diesel were cut for the third successive day on Friday, August 20, while petrol prices continued to remain steady. In the national capital, diesel slipped 20 paise per litre.
Earlier this week, fuel prices were revised for the first time in over a month on Wednesday when diesel prices were cut by 20 paise per litre in New Delhi. However, Petrol prices were last revised across the country on July 17, when it rose by 30 paise in the national capital and touched a fresh record high.
Following the latest price revision, petrol in Delhi is retailing at Rs 101.84 a litre while diesel is now selling at Rs 89.27. In the financial capital Mumbai, petrol price stands at Rs 107.83 while diesel now costs Rs 96.84, data available on Indian Oil Corporation’s website showed.
This is the third successive cut diesel prices so far in August, while there hasn’t been any change in petrol prices. 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 11.44 per litre and diesel has climbed by Rs 8.54 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 steadied on Friday, clambering away from three-month lows, but they were still on track for a weekly loss of more than 5 per cent as new lockdowns in countries facing surging cases of the COVID-19 Delta variant dampened the outlook for fuel demand, news agency Reuters reported earlier in the day.
Broader investor risk aversion also weighed on oil with the US dollar jumping to a nine-month high on signs the US
Federal Reserve is considering reducing stimulus this year, the report said.
Brent crude futures rose 24 cents or 0.4 per cent to $66.69 a barrel at 0635 GMT, after dropping 2.6 per cent on Thursday to its lowest close since May. US West Texas Intermediate (WTI) crude futures for September, due to expire on Friday, rose 38 cents or 0.6 per cent to $64.07 a barrel, after sliding 2.7 per cent on Thursday. The more active October contract was up 26 cents at $63.76 per barrel, it said.
Here’s what you pay for a litre of petrol and diesel in your city on Friday, August 20, 2021:
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|
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