HomeEnergy NewsFuel prices edge lower after 2-day rally; Petrol at Rs 76.72/litre in Mumbai

Fuel prices edge lower after 2-day rally; Petrol at Rs 76.72/litre in Mumbai

Fuel prices snapped two-day rally and declined about 10-11 paise across major cities on Thursday. In Mumbai, petrol and diesel rates were at Rs 76.72 a litre and Rs 68.91 per litre, respectively. 

Profile image

By CNBC-TV18 January 31, 2019, 8:22:23 AM IST (Published)

Fuel prices edge lower after 2-day rally; Petrol at Rs 76.72/litre in Mumbai
Fuel prices snapped two-day rally and declined about 10-11 paise across major cities on Thursday. In Mumbai, p
etrol and diesel rates were at Rs 76.72 a litre and Rs 68.91 per litre, respectively. 


According to the Indian Oil Corp data, petrol prices in New Delhi, Kolkata and Chennai were at Rs 71.09 per litre, Rs 73.18 per litre and Rs 73.80 per litre, respectively, while diesel prices stood at Rs 65.81 a litre in New Delhi, Rs 67.59 a litre in Kolkata and Rs 69.52 a litre in Chennai.

Transport fuel rates were hiked sharply on January 13 as global crude oil rates continued to climb handsomely following the implementation of output cuts by global oil producers from January 1.

Mirroring the rise, state-run oil marketing companies increased petrol rates by 23 paise per litre while diesel prices went up by 29-31 paise across the four major metros.


Petrol and diesel prices have increased by more than Rs 2 per litre each in January.

As per the country's dynamic pricing mechanism, the domestic fuel prices depend upon international fuel prices on a 15-day average and the value of the rupee.

Retail pump price is calculated after adding central excise duty, dealers commission and value-added tax (VAT) to the base price.

(With inputs from agencies)