Petrol, diesel updated price chart on January 9: Check current rates in major cities here

Petrol, diesel prices on January 9: Petrol and diesel prices largely remained unchanged on December 13 (Wednesday). Fuel rates have been steady for over a year now after Union Finance Minister Nirmala Sitharaman reduced the excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel in May 2022.

In Delhi, the price of petrol is Rs 96.72 per liter, while diesel is being sold at Rs 89.62 per litre.  

In Mumbai, petrol is available for Rs 106.31 per liter, with diesel following suit at Rs 94.27 per litre.

In Kolkata, petrol can be bought for Rs 106.31 per litre, with diesel priced at Rs 92.76 per litre. In Chennai, petrol is available for Rs 102.63 per liter, while diesel can be obtained at Rs 94.24 per litre.

State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have temporarily abandoned the daily price revision of petrol, diesel since last year. The current price revision is based on additional taxes, such VAT, levied by states.  

The fuel prices were revised in Gujarat, Madhya Pradesh, Maharashtra, Punjab. The price of petrol and diesel has dropped by 56 paise in Gujarat. In Madhya Pradesh, petrol is now cheaper by 30 paise and diesel by 28 paise. No other state/union territory has seen a decrease in fuel prices. However, petrol and diesel have become more expensive by 52 paise in Maharashtra and by 22 paise and 21 paise in Punjab, respectively.
Here's the updated price list:

Citizens can check the fuel prices by following the given steps:

Customers using Indian Oil outlets can RSP and their city code to 9224992249 to know the current price.

Bharat Petroleum Corporation (BPCL) customers can get information by sending an SMS "RSP" with the city code to 9223112222.

Hindustan Petroleum Corporation (HPCL) consumers can know the latest price by sending HPPrice and their city code to 9222201122.

Crude Oil

Oil prices steadied in early trade on Tuesday after dipping in the previous session. Crude oil exhibited significant volatility and experienced another decline following price reductions by Saudi Arabia. Portfolio investors resumed selling petroleum futures and options, especially those tied to crude, amid renewed doubts about growth in oil consumption in 2024.

On Sunday, heightened supply and increased competition from rival producers led Saudi Arabia to reduce the February official selling price of its flagship Arab Light crude to Asia, marking the lowest level in 27 months.

Hedge funds and other money managers sold the equivalent of 66 million barrels in the six most important petroleum futures and options contracts over the seven days ending on January 2.

Sales were concentrated in crude (-63 million barrels), distributed roughly equally between NYMEX and ICE WTI (-33 million) and Brent (-30 million).

"The combination of Saudi price cuts and a surge in supply from OPEC+ allies contributed to the downward pressure on oil prices. Also, concerns about Chinese demand further weighed on global oil prices. However, the oil market received some support from better-than-expected U.S. job data, helping to stabilize prices at lower levels. Anticipating ongoing volatility, we project crude oil prices to remain unpredictable in today's session. The support for crude oil stands at $70.30–69.50, with resistance at $71.90-72.50 for today's session. In terms of INR, crude oil finds support at Rs 5,790-5,720 and faces resistance at Rs 5,950-6,040," said Rahul Kalantri, VP Commodities, Mehta Equities Ltd.

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