The price of petrol and diesel in India remained unchanged for yet another day on Friday, February 3. This has continued the nearly 8-month-long trend of stagnant fuel prices in the country.
Usually, the prices of these two primary automotive fuels would be revised on a daily basis in line with changes in the global crude oil market. Since India imports most of the crude oil it needs, there were fluctuations in the cost of petrol and diesel every day owing to changes in global oil prices and supply-demand factors.
However, these factors have not had an impact on the retail value of fuels in the country for many months owing to a price freeze by the Oil Marketing Corporations (OMCs).
The last time cost of petrol and diesel changed in India was on May 21 last year. Back then, the excise duty on petrol was slashed by Rs 8 while that on diesel was cut back by Rs 6.
According to the most recent information provided by Indian OMCs, petrol prices varied across four metropolitan cities in India. In Mumbai, a litre of petrol was priced at Rs 106.31, while in Kolkata, it retailed at Rs 106.03. In Chennai, the petrol price was recorded at Rs 102.63 per litre. In contrast, Delhi recorded the lowest price for petrol among these cities, costing Rs 96.72 per litre.
In terms of diesel prices, Delhi once again recorded the lowest prices among these four cities, costing Rs 89.62 per litre. Meanwhile, diesel in Kolkata was priced at Rs 92.76 per litre, and in Chennai, it cost Rs 94.24 per litre. Mumbai was only slightly higher, with diesel prices recorded at Rs 94.27 per litre.
Check fuel rates in different cities in the country on Friday, February 3:
Delhi
Petrol: Rs 96.72 per litre
Diesel: Rs 89.62 per litre
Chennai
Petrol: Rs 102.74 per litre
Diesel: Rs 94.33 per litre
Kolkata
Petrol: Rs 106.03 per litre
Diesel: Rs 92.76 per litre
Mumbai
Petrol: Rs 106.31 per litre
Diesel: Rs 94.27 per litre
Bengaluru
Petrol: Rs 101.94 per litre
Diesel: Rs 87.89 per litre
Lucknow
Petrol: Rs 96.62 per litre
Diesel: Rs 89.76 per litre
Hyderabad
Petrol: Rs 109.66 per litre
Diesel: Rs 97.82 per litre
Bhopal
Petrol: Rs 108.65 per litre
Diesel: Rs 93.90 per litre
Gandhinagar
Petrol: Rs 96.63 per litre
Diesel: Rs 92.38 per litre
Guwahati
Petrol: Rs 96.01 per litre
Diesel: Rs 83.94 per litre
Thiruvananthapuram
Petrol: Rs 107.71 per litre
Diesel: Rs 96.52 per litre.
Usually, a combination of global crude oil prices, domestic taxes and charges, and currency exchange rates determine petrol prices in India. In addition to global crude oil prices, taxes and charges levied by the central and state governments also play a major role in determining the retail price of petrol in India.
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