HIGHLIGHTS

• The price of petrol in Delhi stands at 101.34 per litre.
• Petrol is retailing at Rs 107.39 per litre in Mumbai on Saturday.
• The prices of petrol and diesel were dropped by 15 paise per litre each on September 1, 2021.

There has been no change in the rates of petrol and diesel for the third consecutive day across the country on September 4, 2021. The state-run oil marketing companies have not revised the fuel rates even as international crude oil prices remain weak. Despite remaining unchanged for the third consecutive day, the prices of petrol and diesel are soaring at an all-time high in all the four metro cities.

On Saturday, petrol rates are static at Rs 101.34 and diesel is retailing at Rs 88.77 per litre in Delhi. In India’s financial capital, Mumbai, petrol and diesel are retailing at Rs 107.39 and Rs 96.33 per litre, respectively. The fuel rates are highest in Mumbai among the four metro cities.

Meanwhile, in Chennai, where petrol prices were reduced by Rs 3 per litre recently, petrol prices stand at Rs 99.08 per litre and diesel is available at Rs 93.38 per litre. In Kolkata, petrol is being sold at Rs 101.72 per litre and the rate of a litre of diesel is retailing at Rs 91.84.

Fuel rates eased on September 1:

The petrol prices were lowered by 15 paise to Rs 101.34 and diesel was cut by 15 paise to Rs 88.77 per litre in the national capital on September 1, 2021. In Mumbai, the revised petrol and diesel rates on Wednesday stood at Rs 107.39 per litre and Rs 96.33 per litre, respectively.

Despite the high petrol prices, there has been no major impact on its sale and its demand is set to hit a record high this financial year. On the other hand, the demand for diesel is poor and its consumption could take longer time than expected to rebound to pre-pandemic levels.

The fuel rates fluctuated a lot between May 4 and July 17 and the price of petrol went up by Rs 11.52 per litre during this time period. Since July 18, the rates of petrol and diesel have remained constant and witnessed a slight decline thereafter.

Fuel rates at an all-time high in Jaipur, Bhopal:

In Madhya Pradesh’s Bhopal, the petrol prices stand at Rs 109.77 per litre and diesel is available at Rs 97.57 per litre. On the other hand, in Rajasthan’s capital, Jaipur, the rates of petrol and diesel stand at Rs 108.11 and Rs 97.76 per litre, respectively.

According to reports, Rajasthan levies the highest VAT in the country, followed by Maharashtra and Madhya Pradesh.The fuel rates vary from state to state and also in cities, depending on the incidence of local taxes like value-added tax (VAT) and freight charges.

Petrol and diesel prices in major Indian cities:

Petrol and diesel prices depend on various factors like valuation of INR against USD, the consumption ratio of refineries and demand for fuel in our country. The fuel prices are revised by oil marketing companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum based on international prices in the preceding 15 days and foreign stock exchange.