Petrol, Diesel Prices Unchanged For 25th Day On August 11, 2021

On Wednesday, August 11, 2021, petrol and diesel prices in the four metro cities remained steady for the 25th day in a row. According to the Indian Oil Corporation, petrol prices in the national capital remained stable at 101.84 per litre and diesel prices remained unchanged at 89.87 per litre.

The price of petrol in Mumbai remained steady at Rs 107.83 per litre. On May 29, the financial hub became the first city in the country to sell petrol for more than Rs 100 per litre.

The price of diesel in Maharashtra's capital stayed unchanged at Rs 97.45 per litre. In Chennai, one litre of petrol costs Rs 102.49 and one litre of diesel costs Rs 94.39. Petrol costs Rs 102.08 per litre in Kolkata, while diesel costs Rs 93.02. In Bhopal, one litre of petrol costs Rs 110.20 and one litre of diesel costs Rs 98.67.

Meanwhile, oil prices held steady on Wednesday, as a positive view for US fuel demand overshadowed concerns about mobility restrictions in Asia as the highly infectious COVID-19 Delta variant spread.

Brent crude prices gained 3 cents to $70.66 per barrel, while WTI crude futures gained 6 cents, or 0.1 percent, to $68.35 per barrel.

Oil marketing organisations such as Bharat Petroleum, Indian Oil, and Hindustan Petroleum modify the prices of petrol and diesel. Every day at 6 a.m., the new pricing go into effect. Because of the many value-added taxes, local and freight charges that vary based on the location, fuel prices fluctuate between states and localities.

Minister of State for Finance Pankaj Chaudhary said on July 20 that the excise tax rates on gasoline and diesel have been set to generate resources for infrastructure building and other developmental expenditure in light of the current fiscal circumstances.