Petrol and diesel prices remained unchanged across metros for the 15th consecutive day on Monday, September 20. The state-run oil marketing companies (OMCs) have kept the fuel prices constant despite a marginal fall in global crude oil rates.
According to a price list by OMCs, retail pump petrol price in Delhi was last revised to Rs 101.19 a litre and diesel to Rs 88.62 per litre, the prices remained the same on Monday in the national capital. Similarly, in Mumbai, fuel prices remained static, as petrol and diesel were sold at Rs 107.26 and Rs 96.19 per litre respectively. Currently, among the four metro cities, fuel rates also are the highest in Maharashtra’s capital at present.
In Chennai, a litre of retail pump petrol is priced at Rs 98.96, while the price for diesel also remained static at Rs 93.26 per litre.
Both auto fuel prices remain unchanged in Kolkata too, a litre of petrol is priced at Rs 101.62 per litre and diesel at Rs 91.71 a litre.
Notably, revision in fuel prices is unlikely anytime soon if international crude oil prices do not drop. Also, the Union government had made it clear in last week’s crucial GST council meeting that it will not include petrol and diesel under the GST ambit.
Petrol and diesel prices have been revised twice so far in this month. The first-rate cut was on September 1, state-owned OMCs cut the prices of both petrol and diesel fuel by 15-15 paise per litre. Meanwhile, on September 5, the rates for auto fuel were further lowered by 15 paise per litre each. Both key auto fuels became cheaper in the month of September, the rate has come down by 30 paise.
India is near 85 per cent dependent on crude oil imports to meet its fuel demands. State-run oil refiners such as Bharat Petroleum, Hindustan Petroleum and Indian Oil revise petrol and diesel prices on a daily basis, by taking into account the crude oil prices in global markets and the rupee-dollar exchange rates. Any revisions are implemented at 6 am IST every day. Also, Fuel rates vary across India due to Central excise and state governments levied value-added tax (VAT) among others which make up for almost half of the retail selling price of both key fuels.
Meanwhile, crude oil prices edged lower on Monday following losses from Friday after the U.S. dollar jumped to a three-week high and the U.S-based rig count increased, although nearly a quarter of U.S. Gulf of Mexico crude production remained offline in the wake of two hurricanes.
After losing 33 cents on Friday, Brent crude futures fell 27 cents, or 0.4 per cent, to $75.07 a barrel at 0050 GMT. Whereas, the U.S. West Texas Intermediate (WTI) followed a similar trend as crude futures fell 30 cents, or 0.4 per cent, to $71.67 a barrel, after dropping 64 cents on Friday.
Here are the petrol and diesel prices across all major cities across India:
Petrol – Rs 107.26 per litre
Diesel – Rs 96.19 per litre
Petrol – Rs 101.19 per litre
Diesel – Rs 88.62 per litre
Petrol – Rs 98.96 per litre
Diesel – Rs 93.26 per litre
Petrol – Rs 101.62 per litre
Diesel – Rs 91.71 per litre
Petrol – Rs 109.63 per litre
Diesel – Rs 97.43 per litre
Petrol – Rs 105.26 per litre
Diesel – Rs 96.69 per litre
Petrol – Rs 104.70 per litre
Diesel – Rs 94.04 per litre
Petrol – Rs 97.05 per litre
Diesel – Rs 88.05 per litre
Petrol – Rs 98.30 per litre
Diesel – Rs 89.02 per litre
Petrol – Rs 98.26 per litre
Diesel – 95.70 per litre