Fuel Prices: Domestic petrol and diesel prices vary across states due to value added tax (VAT).The oil marketing companieshiked domestic prices of petrol and dieselin the four metros - Delhi, Mumbai, Kolkata, and Chennai - for the fourth consecutive day on Monday, according to notifications from Indian Oil Corporation.
The prices of petrol were increasedup to 8 paise per litre and diesel, between 18 and 20 paiseper litrewith effect from 6 am on November 23.
With today's increase, the petrol price has been cumulatively hiked by 46paise and diesel rates have been increased by 80paise per litre within a span of four days.(Also Read:How To Check Latest Petrol And Diesel Rates In Your City)Petrol prices were untouchedsince September 22 and diesel rates were unchanged since October 2 this year, before the cycle of hikes resumed on Friday.In Delhi,the price of petrol was hiked by 7paisefrom Rs 81.46 per litre to Rs 81.53 per litre, while diesel rates were increased by 18paise from Rs 71.07 per litre to Rs 71.25 per litre.In Mumbai, petrol and diesel rates were revised to Rs 88.23 per litre and Rs 77.73 per litre respectively.Here are the current prices of petrol and diesel in the four metros (in rupees per litre)CityPetrolDieselDelhi81.5371.25Mumbai88.2377.73Chennai84.5976.72Kolkata83.1074.82Source: Indian OilIndian Oil Corporation, the country's largest fuel retailer,revisesthe domestic fuel rates on a daily basis, and implement thechanges with effect from 6 am.
Bharat Petroleum Corporation, Indian Oil Corporation, and Hindustan Petroleum Corporation hold the majority ofpetrol and diesel stations in the country.
The oil firmsalign the domestic rates with the global benchmarks by considering changes in foreign exchange levels.Brent crude futures, the global oil benchmark, rose 0.38 per cent to USD 44.37 per barrel on Friday.
Meanwhile, the rupee settled at 11 paise higher against the US dollar at 74.16, closing at a one-week high amid weak American currency and strong domestic markets.