Petrol, Diesel Prices Announced For December 23: Check Latest Fuel Rates In Your City

Even as the crude oil prices rose 1 per cent on Friday, petrol and diesel prices on Saturday remained unchanged in India. In the national capital Delhi, the petrol price continues to be at Rs 96.72 per litre, while diesel at Rs 89.62 per litre. In Mumbai, the per-litre petrol price stood at Rs 106.31 per litre, while diesel was at Rs 94.27 a litre.

In India, fuel prices are revised every morning at 6 am. Before June 2017, price revision was done every 15 days.

Petrol in Kolkata stood at Rs 106.03 and diesel is Rs 92.76 per litre. On the other hand, petrol is being sold at Rs 102.63 and diesel at Rs 94.24 per litre in Chennai.

In India, oil marketing companies (OMCs) such as Indian Oil, Bharat Petroleum and Hindustan Petroleum determine petrol and diesel prices. This is done daily, and rates are determined in accordance with the price of crude oil throughout the world.

Crude Oil Prices

Crude oil prices rose as much as 1 per cent on Friday as tensions persisted in the Middle East following Houthi attacks on ships in the Red Sea, although Angola’s decision to leave OPEC raised questions over the group’s effectiveness in supporting prices, according to Reuters.

Brent crude futures were up 71 cents, or 0.89%, to $80.10 a barrel at 1140 GMT ahead of Friday’s earlier 1230 GMT close ahead of the Christmas holiday weekend.

US West Texas Intermediate crude futures were up 81 cents, or 1.1 per cent, at $74.70 a barrel. At its intra-day peak, WTI traded $1 higher than Thursday’s close.

Both Brent and WTI futures were on track for a near 5% week-on-week gain, buoyed by rising geopolitical risks due to the Red Sea attacks and potential disruptions to shipping operations.

Why do fuel prices vary across states?