Fuel Rates Unchanged Yet Again On November 15, 2021; Crude Internationally Seen To Decline Through 2022

Petrol and diesel prices across the country on November 15, 2021 are constant for the eleventh day in a row today. The fuel rates were brought down after the excise duty cut. 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.

Fuel Rates Unchanged Yet Again On November 15, 2021; Crude Internationally Seen To Decline Through 2022

Here are the latest fuel rates as on November 15, 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

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

Crude rate internationally is on the decline with Brent crude down by 0.66 percent at $81.63 per barrel. Dollar gains have led to losses in the commodity. As per the US Energy Information Administration (EIA) forecast, crude prices were seen to decline in the ongoing month and decline further through the next year. "We expect that the price of WTI will fall from an average of $76/b in January 2022 to $62/b in December and that the price of Brent will fall from $79/b in January 2022 to $66/b in December", said their release dated November 10, 2021.

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