Prices of crude oil goes up : Remains unchanged in India

Petrol and diesel prices were unchanged across metros on Monday. Petrol price in Delhi stood at Rs. 72.95 per litre on Monday, and the price of diesel was at Rs. 66.46 per litre, according to Indian Oil Corporation.

In Mumbai, petrol and diesel prices today were Rs. 78.52 per litre and Rs. 69.56 per litre respectively. Domestic petrol and diesel prices are determined broadly by international crude oil prices and the rupee-dollar foreign exchange (forex) rate.

In Kochi petrol and diesel has been priced at Rs. 74.96 and is Rs. 69.99 respectively.

Brent crude futures – the international benchmark for crude oil – were up 2.5 per cent at $73.76 per barrel after brushing $74.31 per barrel during the session, the highest level recorded since November 1, 2018.

The rupee hit an intraday low of 69.82 against the dollar on Monday, marking a drop of 47 paise – or 0.68 per cent – from the previous close.

Currently, petrol and diesel prices are reviewed by oil marketing companies on a daily basis, and any revisions effected at the fuel stations at 6 am. The domestic prices of petrol and diesel vary from city to city, depending on local taxes and transportation cost.