The prices of petrol and diesel vary across various cities in India and have far-reaching impacts on the health of the nation’s economy. The daily rates are impacted by various factors including prices of crude oil, taxes, transportation costs, exchange rates, etc. As millions of Indians commute daily for different purposes, it becomes important to remain aware of the prices of petrol and diesel in their cities.
Petrol and diesel prices are influenced by local demand and supply so the cities with higher demand or lower supply may experience different pricing dynamics. Factors like population density, economic activities, and regional demand patterns can impact the local balance between supply and demand.
Price of petrol and diesel in various cities of India on 24 February
| City | Petrol (Rs/litre) | Diesel (Rs/litre) |
| Delhi | 96.72 | 89.62 |
| Mumbai | 106.31 | 94.27 |
| Chennai | 102.63 | 94.24 |
| Kolkata | 106.03 | 92.76 |
| Noida | 96.79 | 89.96 |
| Lucknow | 96.57 | 89.76 |
| Bengaluru | 101.94 | 87.89 |
| Hyderabad | 109.66 | 97.82 |
| Jaipur | 108.48 | 93.72 |
| Trivandrum | 109.73 | 98.53 |
| Bhubaneswar | 103.19 | 94.75 |
The prices of international oil slipped 3% on Friday after US Fed policymakers suggested a potential delay of at least two more months in interest rate cuts. Brent crude futures concluded at $81.62 per barrel, reflecting a $2.05 or 2.5% drop, while US West Texas Intermediate crude futures (WTI) saw a decrease of $2.12 or 2.7%, settling at $76.49.
Over the week, Brent recorded a 2% decline, and WTI saw a more significant decrease of over 3%. Despite these downturns, the outlook suggests that positive signals related to fuel demand and concerns about supply could contribute to a potential recovery in prices in the forthcoming days.
“The entire energy complex is reacting, because if inflation begins to come back it will slow demand for energy products,” said Tim Snyder, an economist at Matador Economics told Reuters. “That is not something the market wants to digest right now, especially as it is trying to figure out a direction,” he added.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates.
Published: 24 Feb 2024, 03:17 PM IST