HomeEconomy NewsNo change in petrol, diesel rates for 24th straight day

No change in petrol, diesel rates for 24th straight day

Fuel prices across the metros remained unchanged for the 24th straight day on Tuesday.

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By CNBCTV18.com March 23, 2021, 8:05:35 AM IST (Published)

No change in petrol, diesel rates for 24th straight day
Fuel prices across the metros remained unchanged for the 24th straight day on Tuesday. In the national capital, the price of petrol remained steady at Rs 91.17 per litre and diesel was stable at Rs 81.47 per litre, according to Indian Oil Corporation, the country's largest fuel retailer.


In Mumbai, the petrol price remained unchanged at Rs 97.57 per litre on Friday. The cost of diesel also was the same at Rs 88.60 a litre.

The prices of petrol and diesel are reviewed by oil marketing companies such as state-run Indian Oil on a daily basis and any revision is implemented from 6 am in the morning.

Indian Oil Corporation had last increased fuel prices on February 27. Since then, the fuel rates have been unchanged across the four metro cities.

The fuel prices vary from state to state in the country due to the value-added tax or VAT.

Meanwhile, oil prices fell 1 percent on Tuesday globally on concerns that new pandemic curbs and slow vaccine rollouts in Europe will slow recovery in fuel demand and as producers cut prices, indicating ample oil supply.

US West Texas Intermediate (WTI) crude futures for May delivery fell 62 cents, or 1 percent, to $60.94 a barrel at 0149 GMT. The April contract expired on Monday at $61.55, up 13 cents from Friday, after plunging more than 6 percent last week.

Brent crude futures for May dropped by 68 cents, or 1.1 percent to $63.94, erasing a 9 cent gain in the previous session, according to news agency Reuters.
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