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Crude oil prices have noted a record fall, having spiralled downward by about 9.4 percent this week. Despite this, the prices of fuels in India have not budged one point. A price freeze in place since the government last slashed excise duties on both diesel and petrol on May 21, 2022, has ensured that the costs of the two primary automotive fuels remain constant in the country. Oil marketing companies (OMCs) such as HPCL, IOC, and BPCL, who usually update prices of the primary automotive fuels at 6 am every day, have not notified of any changes in the price of petrol and diesel recently.
Experts had previously opined that they anticipate the price freeze to continue till the companies recover from the losses caused by supply and demand shocks in the past few quarters. In line with the trend noticed over the past seven months, the cost of petrol and diesel was stagnant on Saturday, January 7, throughout the country.
In three out of the four Indian metropolitan cities, petrol continued to retail at over Rs 100. The national capital of Delhi was the only metro city where the price did not touch that mark. A litre of petrol here cost Rs 96.72. In Mumbai, India’s financial capital, the same quantity of fuel was being sold at Rs 106.31. Kolkata was a close runner-up in terms of sky-high rates, with a litre of petrol here retailing at Rs 106.03. In Chennai, one litre of petrol was sold at Rs 102.73.
On Saturday, Diesel cost Rs 89.62 per litre in Delhi, while in Mumbai, it lightened customers’ purses by Rs 94.27 for every litre they purchased. In the automobile capital of Chennai, a litre of diesel was being sold at Rs 94.24, while in Kolkata, it cost Rs 92.76 for the same quantity
Find fuel rates in different cities in India on January 7 here:
Delhi
Petrol: Rs 96.72 per litre
Diesel: Rs 89.62 per litre
Chennai
Petrol: Rs 102.73 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 96.57 per litre
Diesel: Rs 89.76 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
Hyderabad
Petrol: Rs 109.66 per litre
Diesel: Rs 97.82 per litre
Thiruvananthapuram
Petrol: Rs 107.71 per litre
Diesel: Rs 96.52 per litre.
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