August 31, 2021 11:16:47 am
Petrol and diesel price today: Petrol and diesel prices were steady across the country for the seventh consecutive day on Tuesday, August 31, 2021. The prices of the key auto fuels were last revised on August 24 when 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.
This month, petrol prices were cut twice while diesel rates got 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.
Internationally, crude oil prices fell on Tuesday on concerns that power outages and flooding in Louisiana after Hurricane Ida will cut crude demand from refineries at the same time global producers plan to raise output, news agency Reuters reported earlier in the day.
US West Texas Intermediate (WTI) crude futures were down 41 cents (0.6 per cent) to $68.80 a barrel at 0245 GMT, reversing most of Monday’s gains. Brent crude futures for October, due to expire on Tuesday, were down 46 cents (0.6 per cent) at $72.95 a barrel, after gaining nearly 1 per cent on Monday. The more active November contract fell 42 cents (0.6 per cent) to $71.81, the report said.
Here’s what you pay for a litre of petrol and diesel in your city on Tuesday, August 31, 2021:
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|
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