Petrol and diesel prices: Fuel rates were stable in metro cities today
Petrol, Diesel Price Today: Petrol and diesel prices remained unchanged for the seventh day in a row on Wednesday, November 10, days after the government brought the excise duty on petrol and diesel slightly below a record high.
According to the Indian Oil Corporation, petrol is being sold in the national capital for Rs 103.97 while diesel is being sold for Rs 86.67. Petrol in Mumbai is being sold at Rs 109.98 per liter while diesel is being sold at Rs 94.14 per litre.
Despite the reduction in prices, rates of petrol and diesel are still above Rs 100 per liter across the country, while among the four metros, they are the most expensive in Mumbai. The move to cut excise duty on fuel prices could result in a loss of Rs 1.4 lakh crore annually to the government. ,Too Reading: How to check latest petrol and diesel rates in your city,
Petrol and diesel prices in metro cities are as follows:
State-run oil refiners such as Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel rates on a daily basis, taking into account crude oil prices and rupee-dollar exchange rates in international markets. Any change in the prices of petrol and diesel is effective from 6 am every day.
Globally, oil prices edged higher on Wednesday, following gains in the previous session, with industry data showing an unexpected fall in US crude stocks last week, as did near-term travel. The demand was relaxed.
US West Texas Intermediate (WTI) crude futures rose 23 cents, or 0.3 per cent, to $84.38 a barrel, having gained 2.7 per cent on Tuesday. After gaining 1.6 per cent on Tuesday, Brent crude futures were up 36 cents, or 0.4 per cent, at $85.14 a barrel.
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