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Petrol, Diesel Prices Static For 27 Straight Days; Global Crude Rates Slip On IEA Warning


State run oil retailers have kept the fuel rates unchanged in the country for 27 straight days as on August 13, 2021. Petrol rates were last increased on July 17 when it scaled a fresh high with an increase of 30 paise per litre, while diesel prices were not revised on that day.

Fuel Prices Static For 27 Straight Days; Global Crude Rates Slip On IEA Warning

After a hiatus of few days, petrol and diesel prices began their upward move since May 4 post the completion of assembly elections in the state and UTs including West Bengal, Kerala, Assam, Puducherry and Tamil Nadu.

Since mid June of 2017, state run oil marketing companies are following dynamic pricing model wherein petrol and diesel rates are revised every day based on the average of international crude rates in the previous fortnight and foreign exchange rate. Furthermore, petrol and diesel rates vary across cities and states in the country owing to VAT, local and freight charges etc. that differ from place to place. Plus there are excise duty implications charged by the centre on auto fuels.

In the previous day (August 12, 2021), oil prices fell after the International Energy Agency (IEA) viewed the spread of Delta variant of Covid 19 virus to slow down the process of recovery in global oil demand. Last the West Texas Intermediate (WTI) of crude traded down by 0.65% at $68.64 per barrel.

Here are the fuel rates across 4 metro cities on August 13, 2021

Metro cityPetrol rate in Rs./litreDiesel rate in Rs./litre

Read more about: petrol diesel
Story first published: Friday, August 13, 2021, 7:37 [IST]
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