Petrol, diesel rates: Oil marketing companies such as Indian Oil review the fuel prices on a daily basisDomestic prices of petrol and diesel were kept unchanged at existing levels on Wednesday, October 2.
The pause in revision of fuel prices follows two days of hike.
The price of petrol was Rs 74.61 per litre in Delhi and Rs 80.21 per litre in Mumbai on Wednesday, according to Indian Oil Corporation's website - iocl.
The price of diesel stood at Rs 67.49 per litre and Rs 70.76 per litre in Delhi and Mumbai respectively.
( How to check petrol and diesel prices in your city)Currently, oil marketing companies such as state-run Indian Oil Corporation - the country's largest fuel retailer - review the prices of petrol and diesel on a daily basis.
Any changes are implemented at the fuel pumps with effect from 6 am.CityPetrolDieselDelhi74.6167.49Kolkata77.2369.85Mumbai80.2170.76Chennai77.5071.30(Source: Indian Oil Corporation)The domestic rates of petrol and diesel are adjusted taking into account factors such as global crude oil prices and the rupee-dollar foreign exchange rates.Crude oil prices rebounded on Wednesday after industry data showed a surprise drop in US crude inventories.
Brent crude futures - the global benchmark for crude oil - rose 0.73 per cent to $59.32 per barrel by 10:07 am, claiming back some of the ground lost over the past three sessions.International oil prices are now below levels from before the September 14 attacks on Saudi oil facilities as the world's largest oil exporter has restored its full oil production and capacity.Petrol and diesel prices were hiked more than 3 per cent in the metros last month.
In Delhi, the price of petrol was increased by Rs 2.41 per litre and that of diesel by Rs 2.08.
In Mumbai, petrol and diesel rates were revised upwards by Rs 2.41 per litre and Rs 2.23 per litre respectively in September.The domestic oil marketing companies switched to the current system of daily price revisions in June 2017, in a shift from fortnightly revisions, in order to reflect the changes in global rates more effectively.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
Catch all the Live TV action on TheIndianSubcontinent 24x7 and TheIndianSubcontinent India.
Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.
Music
Trailers
DailyVideos
India
Pakistan
Afghanistan
Bangladesh
Srilanka
Nepal
Thailand
Iraq
Iran
Russia
Brazil
StockMarket
Business
CryptoCurrency
Technology
Startup
Trending Videos
Coupons
Football
Search
Download App in Playstore
Download App
Best Collections