Petrol and diesel prices across the country are constant for the 13th straight day on November 17, 2021 (Wednesday). On November 4, after the centre slashed excise duty on fuel, petrol rate in the country was reduced by between Rs. 7-8 per litre, while for diesel rates came down by Rs. 11-13 per litre.
Here are the fuel rates as on November 17, 2021:
|Metro city||Petrol rate in Rs/litre||Diesel rate in Rs./litre|
Even after the reduction in prices, petrol rate in some of the cities and all the 4 metros is retailing above Rs. 100 per litre. The rates vary across states due to value added tax or VAT.
Since mid June 2017, fuel rates in the country are revised on a daily basis at 6 am and thus have been following dynamic pricing model. The international rates as well as foreign exchange rate influence fuel rates in the domestic market.
International crude rates
Internationally, oil prices retreated southward owing to concerns around increasing coronavirus cases in Europe. Brent traded lower by close to 1 percent at $81.65 per barrel.