On Wednesday, both petrol and diesel remained steady in price for the third-straight day. Price of both the auto fuels in the domestic market is determined on the basis of international crude oil prices and the rupee-dollar foreign exchange rate. Oil marketing companies review fuel rates on a daily basis and revision in the price is effected at 6 am.
The halt in fuel prices is on the back of easing of crude oil prices globally that hit a near 6-month high after the US reports suggested that the US administration will not renew waivers for Iranian oil import to nations such as India, China and some other countries.
Petrol rates: Today, the petrol prices in India were recorded at Rs 72.95 per litre in New Delhi, Rs 74.97 per litre in Kolkata, Rs 78.52 per litre in Mumbai and at Rs 75.71 per litre in Chennai.
Diesel rates: While diesel prices today stood at Rs 66.46 per litre in New Delhi, Rs 68.20 per litre in Kolkata, Rs 69.56 per litre in Mumbai and at Rs 70.17 per litre in Chennai.
International crude oil prices: Crude oil price in the international market softened on indications that the world markets have adequate supplies. The global benchmark for crude, brent crude futures last traded at $74.24 per barrel, lower by 0.4%.
Earlier in the week, crude future surged to 2019 highs after the US pushed to end waivers on Iranian oil imports.