Business

Petrol & Diesel Prices Unchanged

In Mumbai, petrol was retailed at Rs 91.20 per litre.

In Mumbai, petrol was retailed at Rs 91.20 per litre. The diesel price in the national capital was stagnant at Rs. 75.25 per litre.

Oil marketing companies (OMCs) kept petrol and diesel prices unchanged on Wednesday. In Delhi, petrol was sold at Rs 83.85 per litre today.

A litre of petrol was purchased at a price of Rs. 87.18 in Chennai and Rs. 85.65 in Kolkata, according to a notification by Indian Oil Corporation (IOC).

The diesel price in the national capital was stagnant at Rs. 75.25 per litre. A litre of diesel was sold in Mumbai, Kolkata and Chennai at Rs 79.89, Rs 79.57 and Rs 77.10 respectively.

Things to know about petrol, diesel prices:

1. Fuel prices were stable on Wednesday after witnessing a steep rise since the past few weeks. The increase in transport fuel rates is majorly attributed to surging crude oil prices and a depreciating rupee.

2. Brent the global benchmark for crude oil traded near $85 per barrel on Wednesday, inches from November 2014 high of $85.45 registered earlier this week.

3. The rupee registered a new all-time low of 73.34 against the US dollar on Wednesday. Sharp rise in global crude oil prices over the last two sessions weighed on sentiment for the local unit.

4. On the other hand, domestic cooking gas (LPG) rates were hiked on Monday by Rs 2.89 per 14.2-kg cylinder to Rs 502.40 on account of higher GST (Goods and Services Tax) applicable on base price, according to oil companies. This is the fifth straight monthly increase in subsidised LPG rates.

5. State-run Indraprastha Gas Ltd (IGL) on Monday also raised the price of compressed natural gas (CNG) by Rs 1.70 per kg and of domestic piped gas by Rs 1.30 per standard cubic metres (scm) in Delhi.

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