Diesel price drops for 2nd straight day, petrol rate unchanged for 33 days

New Delhi: Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Petrol prices remain unchanged for the 33rd consecutive day across metros but oil marketing companies have reduced the cost of diesel for the second day straight today. Petrol in the national capital today costs Rs 101.84 per litre, while Diesel in the capital city is retailing at Rs 89.47 per litre, down 20 paise from yesterday. The price of petrol in Delhi has increased by Rs 11.15, since May 4. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.

Mumbai’s petrol cost is the highest across metro cities, standing at a staggering Rs 107.83 per litre. Diesel in the country’s financial capital costs Rs 97.04 per litre, down 20 paise. The divergence in prices between Delhi and Mumbai is due to various local VAT factors in different cities. Petrol and Diesel prices are fixed on the basis of freight charges, local taxes, and VAT. Petrol has crossed the Rs 100-a-litre mark in Delhi, Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu and Kashmir, Odisha, Tamil Nadu, Ladakh, and some cities of Bihar and Punjab.

Petrol, diesel prices in Chennai, Kolkata, Bengaluru, Hyderabad, UP, Punjab, Haryana, Pune

-Chennai: Petrol prices – Rs 99.47 per litre; Diesel prices – Rs 94.02 per litre

-Kolkata: Petrol prices – Rs 102.08 per litre; Diesel prices – Rs 92.57 per litre

-Pune: Petrol prices – Rs 107.39 per litre; Diesel prices – Rs 95.87 per litre

-Bengaluru: Petrol prices – Rs 105.25 per litre; Diesel prices – Rs 94.86 per litre

-Hyderabad: Petrol prices – Rs 105.83 per litre; Diesel prices – Rs 97.53 per litre

-Noida (UP): Petrol prices – 99.02 per litre; Diesel prices – Rs 89.97 per litre

-Mohali (Punjab): Petrol prices – Rs 103.85 per litre; Diesel prices – 92.42 per litre

-Chandigarh: Petrol prices Rs 97.93 per litre; Diesel prices – Rs 89.12 per litre

-Gurugram (Haryana): Petrol prices – Rs 99.46 per litre; Diesel prices – Rs 90.08 per litre

Crude Oil price

Crude oil prices slipped again on Thursday as fear of reduced demand amid rising covid-19 cases caught investors. Crude oil prices have slipped for 6 consecutive days now. Brent crude futures were trading at $67.38 per barrel on Friday. U.S. West Texas Intermediate futures were at $64.53 a barrel, according to Reuters.

“WTI Crude Oil prices continue to trade within a rising channel pattern on the weekly chart and the prices are currently settled near its lower band of the pattern. And the lower band of the pattern is supported with a 21- day exponential moving average which is acting as an anchor point for the prices. By contrast, the Organization of the Petroleum Exporting Countries (OPEC) on Thursday stuck to its forecast for a rebound in global oil demand this year and further growth in 2022, notwithstanding the rising concern over surges in COVID-19,” said Rohan Patil, Technical Analyst, Bonanza Portfolio.