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Fuel Rates Static For 12 Days Now On November 16, 2021; Crude Internationally Slips
Petrol and diesel prices across the country on November 16, 2021 are constant for the 12th day in a row today. Petrol rate in the country saw a reduction in price by Rs. 7-8, while for diesel rates came down by Rs. 11-13 per litre after the excise duty was slashed on fuel.
Here are the fuel rates as on November 16, 2021:
| Metro city | Petrol rate in Rs/litre | Diesel rate in Rs./litre |
|---|---|---|
| Delhi | 103.97 | 86.67 |
| Mumbai | 109.98 | 94.14 |
| Kolkata | 104.67 | 101.56 |
| Chennai | 101.4 | 91.43 |
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
Oil prices retreated lower today after a rebound in coronavirus cases in Europe led to concerns around demand condition amid prospects of supply rising.
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