The price of benchmark crude oil has dipped for consecutive sessions. The price of both Brent Crude and WTI has dipped below their mid-January highs. In mid-January, the price of Brent Crude went past USD 81.97 per barrel, while WTI Index hovered around USD 79 per barrel.
Crude Oil Prices Slump
Brent Crude, as per latest reports, dipped to USD 78.21. The WTI slumped to USD 74.54 per barrel.
Has this brought about a change in the price of fuel, particularly Petrol in India? After all as per revised protocols, the Oil marketing companies (OMCs) update fuel prices daily at 6 a.m, as a part of their dynamic pricing system.
The dynamic pricing system regulates fuel prices on a daily basis depending on the value of crude in international markets. This system came into being in 2017.
Petrol & Diesel Prices
The answer to the is simple: no, the prices of petrol have not changed in major Indian cities.
Mumbai
When it comes to the country's financial capital, Mumbai, the price of a litre of petrol stands at Rs 103.50. When it comes to diesel, the price stands at Rs 90.03 per litre.
Kolkata
In the city of joy, Kolkata, the prices currently stand at Rs 105.01. Diesel, meanwhile, stands at Rs 91.82.
Delhi
In the national capital Delhi, the price of petrol stood at Rs 94.77 per litre. Meanwhile, the price of diesel stands at Rs 87.67.
Chennai
In the Southern city of Chennai, the price of petrol stood at Rs 100.80. A litre of diesel would cost about Rs 92.39.
Bengaluru
Motorists in the IT capital of Bengaluru will have to shell out Rs 102.92 for a litre of petrol and 88.99 for a litre of diesel.
When it comes to major cut in prices, the government last cut petrol and diesel prices by Rs 2 per litre, ahead of the general elections in March 2024.