So, after the rates have been held constant, here are the petrol and diesel rates in the top metropolitan cities:
|City||Petrol price in Rs/l||Diesel Price in Rs/l|
|New Delhi||Rs. 97.76||Rs. 88.3|
|Chennai||Rs. 98.88||Rs. 92.89|
|Mumbai||Rs. 103.89||Rs. 95.79|
|Kolkata||Rs. 97.63||Rs. 91.15|
Since June 2017, the OMCs have been following dynamic pricing model as per which state oil marketers taking into account the international crude rates of the past fortnight and forex rate, revise prices everyday at 6 am.
Lately, petroleum ministry in the country have owed the continuing hike in fuel prices to surge in international crude rates which in the case of Brent crude have moved past 75 per barrel. On Thursday, oil held 3-year highs as there was seen a drag on US inventories. Also, prices gained support from the doubts around 2015 Iran nuclear deal.
Both WTI and Brent rose to their highest since October 2018.