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Petrol prices continue their record run, diesel rates unchanged for 4th day

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Petrol prices continue their record run, diesel rates unchanged for 4th day

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Petrol prices continued their record rally on Friday, while diesel prices were unchanged for the fourth consecutive day across major metro cities.

Petrol prices continue their record run, diesel rates unchanged for 4th day
Petrol prices continued their record rally on Friday, while diesel prices were unchanged for the fourth consecutive day across major metro cities.
Petrol and diesel prices were at Rs 82.32 a litre and Rs 73.87 a litre, respectively in the Delhi National Capital Region.
In Mumbai, Chennai and Kolkata, the petrol prices were at Rs 89.69 per litre, 85.58 per litre and Rs 84.16 per litre. Diesel prices in the three metros remained unchanged at Rs 78.42 a litre, Rs 78.10 per litre and Rs 75.72 per litre, respectively.
Domestic fuel prices have been surging since mid-August due to various factors including rupee depreciation, high excise duty and rise in crude oil rates.
International benchmark Brent crude for November delivery was up 4 cents at $78.74 a barrel on Friday.
Offering some respite to the Indian refiners, the government said they will pay for oil from Iran in rupee instead of dollars through the Central Bank Iran. The payments will be done through the Iran's apex bank branch in Mumbai.
With this decision, India is expecting the Iranian oil payment concerns to be eased within the next 8 - 10 days. The oil imports from Iran are soon to begin from Chabahar port.
As per the country's pricing mechanism, the domestic fuel prices are dependent upon the international fuel prices on a 15-day average and the value of rupee.
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