Petrol and Diesel Prices on January 20: Even as Brent crude oil prices lowered on Friday, petrol and diesel prices in India on Saturday remained largely constant. In the country, petrol prices in India vary across states and range between Rs 96 and Rs 106, while diesel remains in the range of Rs 84-Rs 94.
According to government oil companies, in Uttar Pradesh’s Gautam Budh Nagar district (Noida-Greater Noida), the price stood at Rs 96.79 a litre this morning, while diesel is being sold at Rs 89.96 a litre. In Chandigarh, the petrol and diesel prices remained the same at Rs 96.20 and Rs 84.26 a litre, respectively.
In Lucknow, petrol prices stood at Rs 96.57 a litre and diesel at Rs 89.76. In Gurugram, the price was at Rs 97.18 a litre and that of diesel rose by 33 paise to Rs 90.05.
Currently, petrol in Delhi is being sold at Rs 96.72 a litre while diesel is being sold at Rs 89.62 a litre. Whereas in Mumbai, petrol is available at Rs 106.31 and diesel at Rs 94.27 per litre. While petrol in Kolkata is Rs 106.03 and diesel is Rs 92.76 per litre. On the other hand, petrol is being sold at Rs 102.63 and diesel at Rs 94.24 per litre in Chennai.
In India, oil marketing companies (OMCs) such as Indian Oil, Bharat Petroleum and Hindustan Petroleum determine petrol and diesel prices. This is done on a daily basis, and rates are determined in accordance with the price of crude oil throughout the world.
Crude Oil Prices
Oil prices settled slightly lower on Friday but recorded a weekly gain as Middle East tensions and disruptions to oil output offset concerns about the Chinese and global economies, according to Reuters.
Brent futures settled 54 cents lower at $78.56 a barrel. U.S. West Texas Intermediate crude fell 67 cents to settle at $73.41.
For the week, Brent gained about 0.5% while the U.S. benchmark rose over 1%.
Why do fuel prices vary across states?
The rates for each day, whether new or unchanged, are announced at 6 am on the day. These, however, vary from state to state; this is due to criteria such as Value Added Tax (VAT), freight charges, local taxes, etc.
How to Check Petrol, and Diesel Prices City-Wise?
You can also know the daily rate of petrol and diesel through SMS. Indian Oil customers can get information by sending RSP and their city code to 9224992249 and BPCL customers can get information by sending an SMS to 9223112222 by typing RSP and their city code. Whereas, HPCL consumers can know the price by sending HPPrice and their city code to 9222201122.
Will Petrol Prices Fall?
Government-owned oil marketing companies (OMCs) may consider reducing prices of petrol and diesel by Rs 5-Rs 10 next month after they announce Q3 FY24 results, according to a Hindustan Times report citing three people aware of the matter. The OMCs are likely to cross a record Rs 75,000 crore in their combined net profit amid lower costs of acquiring crude oil.
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