Petrol value regular, diesel lower for the third straight day

Petrol and diesel value as we speak: Prices of diesel have been lower for the third successive day on Friday, August 20, whereas petrol costs continued to stay regular. In the nationwide capital, diesel slipped 20 paise per litre.
Earlier this week, gasoline costs have been revised for the primary time in over a month on Wednesday when diesel costs have been lower by 20 paise per litre in New Delhi. However, Petrol costs have been final revised throughout the nation on July 17, when it rose by 30 paise within the nationwide capital and touched a recent document excessive.
Following the newest value revision, petrol in Delhi is retailing at Rs 101.84 a litre whereas diesel is now promoting at Rs 89.27. In the monetary capital Mumbai, petrol value stands at Rs 107.83 whereas diesel now prices Rs 96.84, information accessible on Indian Oil Corporation’s web site confirmed.
This is the third successive lower diesel costs to date in August, whereas there hasn’t been any change in petrol costs. In July, petrol costs have been hiked 9 occasions whereas diesel charges have been raised on 5 events and lower on one event. In June, each the auto gasoline costs have been hiked on 16 events, which adopted the 16 hikes within the month of May after the oil advertising corporations (OMCs) resumed their value revisions ending an 18-day hiatus that coincided with the meeting elections in key states. Since May 4, petrol value has elevated by Rs 11.44 per litre and diesel has climbed by Rs 8.54 in New Delhi.

Auto gasoline costs within the nation differ from state to state relying on the native taxation (VAT) and freight costs. Apart from this, the central authorities costs an excise responsibility on auto fuels.
OMCs revise charges of petrol and diesel day by day primarily based on the typical value of benchmark gasoline within the worldwide market within the previous 15-days and international alternate charges.
In the worldwide market, oil costs steadied on Friday, clambering away from three-month lows, however they have been nonetheless on monitor for a weekly lack of greater than 5 per cent as new lockdowns in international locations going through surging circumstances of the COVID-19 Delta variant dampened the outlook for gasoline demand, information company Reuters reported earlier within the day.
Broader investor threat aversion additionally weighed on oil with the US greenback leaping to a nine-month excessive on indicators the USFederal Reserve is contemplating lowering stimulus this 12 months, the report stated.

Brent crude futures rose 24 cents or 0.4 per cent to $66.69 a barrel at 0635 GMT, after dropping 2.6 per cent on Thursday to its lowest shut since May. US West Texas Intermediate (WTI) crude futures for September, on account of expire on Friday, rose 38 cents or 0.6 per cent to $64.07 a barrel, after sliding 2.7 per cent on Thursday. The extra energetic October contract was up 26 cents at $63.76 per barrel, it stated.
Here’s what you pay for a litre of petrol and diesel in your metropolis on Friday, August 20, 2021:
City
Petrol (Rs/litre)
Diesel (Rs/litre)
New Delhi
101.84
89.27
Mumbai
107.83
96.84
Kolkata
102.08
92.32
Chennai
99.47
93.84
Bengaluru
105.25
94.65
Hyderabad
105.83
97.33
Patna
104.25
95.01
Bhopal
110.20
98.05
Jaipur
108.71
98.39
Lucknow
98.92
89.61
Thiruvananthapuram
103.82
95.86
Source: Indian Oil Corporation