Petrol, Diesel Prices Today: Diesel Rates Surge After More than 2 Weeks. Check Rates

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Petrol, Diesel Prices Today, September 24, 2021: In the international markets, crude oil prices witnessed a rise for a fourth consecutive day on Friday.

Petrol price remained unaltered for the 19th consecutive day, but diesel got costlier across the country on Friday, September 24. State-owned oil marketing companies (OMCs) hiked the price of diesel, the most used fuel in the country by 20-22 paise on Friday. Notably, the hike in diesel prices came after nearly two months. The revision comes after the price of Brent crude has increased to nearly $78 a barrel in the international markets, owing to demand crude amid increased economic activities, Reuters reported.

However, the prices of petrol have been kept constant. In the national capital, petrol costs the same at Rs 101.19 per litre, while the diesel rate was at Rs 88.82 per litre (Rs 88.62 on Sept23) after today’s marginal hike. Petrol and diesel are still being sold at record high levels, in most cities across the country, the price of petrol is more than Rs 100 per litre in many cities and even diesel has crossed the 100 marks in few places.

In Mumbai, fuel prices witnessed a similar trend, the price of diesel in the country’s financial hub has increased from Rs 96.19 per litre to Rs 96.41 per litre, which is a hike of 22 paise. The price of a litre of petrol remained unaltered and retailed at Rs 107.26.

The price of diesel increased in Kolkata too, it was hiked by 21 paise leaving the final price at Rs 91.92 a litre, while petrol price did not change and retailed at Rs 101.62 per litre in West Bengal’s capital.

In Chennai, fuel prices followed a similar trend, diesel prices shot up by 20 paise while the rate of petrol remained static. After the new revision, a litre of diesel is being sold at Rs 93.46 and petrol retailed at the previous price of Rs 98.96 per in the southern metropolis.

Meanwhile, in the international markets, crude oil prices witnessed a rise for a fourth consecutive day on Friday. The latest revision takes Brent towards a three-year high, as investors focused on tighter supplies, growing fuel demand and high anticipations for recovery from the pandemic, Reuters cited.

After touching a two-month high on Thursday and closing at its highest since October 2018, Brent crude settled up 40 cents, or 0.5 per cent at $77.65 a barrel, by 0037 GMT. The U.S. West Texas Intermediate (WTI) crude was up 27 cents, or 0.4 per cent, at $73.57 a barrel, having closed 1.5% in the previous session.

India buys 80 per cent of its crude oil from abroad, furthermore, petrol and diesel prices are revised by state-run OMCs like Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum on a daily basis. The new prices are revised by taking into account the crude oil prices in global markets, as well as the rupee-dollar exchange rates and the new rates, which are implemented at 6 am every day. Other than the above reasons, Central excise, state governments levied value-added taxes (VAT) and local charges which make up for almost half of the retail selling price of petrol and diesel.

Here are the petrol and diesel prices across all major cities across India:

Mumbai

Petrol – Rs 107.26 per litre

Diesel – Rs 96.41 per litre

Delhi

Petrol – Rs 101.19 per litre

Diesel – Rs 88.82 per litre

Chennai

Petrol – Rs 98.96 per litre

Diesel – Rs 93.46 per litre

Kolkata

Petrol – Rs 101.62 per litre