Fuel rates today: Diesel rates fall for first time in 3 months; petrol continues to rise

State-backed oil marketing companies (OMCs) hiked petrol prices by 28 paise while lowering diesel prices by 16 paise. Diesel rates have gone down for the first time in almost three months. Petrol and diesel rates were last hiked on July 10 (Saturday) by 35 paise and 26 paise respectively. Fuel rates were kept unchanged on July 11 (Sunday).

After the recent revision in fuel prices, petrol costs Rs 101.19 per litre in Delhi while diesel sells at Rs 89.72 per litre in the national capital. Petrol now sells at Rs 107.20 per litre in Mumbai while diesel is down by 17 paise at Rs 97.29 per litre.

In Kolkata, petrol went up by 34 paise and diesel fell by 16 paise to settle at Rs 101.35 per litre and Rs 92.81 per litre respectively. Citizens in Chennai will now have to pay Rs 101.92 per litre for petrol and Rs 94.24 per litre for diesel respectively.

Also read: Fuel rates hiked; petrol inches closer to Rs 107 per litre in Mumbai

Fuel is selling at the most exorbitant rates in Rajasthan's Sri Ganganagar district. After a hike of 29 paise, petrol costs Rs 112.53 per litre in the district located near the India-Pakistan border and diesel went down by 17 paise to settle at Rs 102.98 per litre.  

Petrol, diesel prices in metros on July 12

                          Petrol               Diesel

Delhi                Rs 101.19         Rs 89.72

Mumbai           Rs 107.20         Rs 97.29

Kolkata            Rs 101.35        Rs 92.81

Chennai          Rs 101.92         Rs 94.24

Oil prices are revised on a daily basis by factoring in value-added tax levied across different states and freight charges besides average price of benchmark fuel in the international market in the preceding 15 days as well as the foreign exchange rate.

Crude oil prices

Crude oil prices plummeted on July 12 (Monday) on slowing global growth and spread of coronavirus variants, Reuters reported. Brent Crude fell by 15 cents or 0.2 per cent to $75.40 per barrel whereas US West Texas Intermediate (WTI) crude fell by 12 cents or 0.2 per cent to $74.44 per barrel.

Edited by Mehak Agarwal

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