Petrol and Diesel Prices on December 2: Although crude oil prices fell 2 per cent on Friday on investor scepticism about the depth of OPEC+ supply cuts and concern about sluggish global manufacturing activity, the petrol and diesel prices in India remained constant. The petrol prices in India stood in the range of Rs 96-Rs 106 across various states, while diesel stood between Rs 84 and Rs 94.
According to government oil companies, in Uttar Pradesh’s Gautam Budh Nagar district (Noida-Greater Noida), the price stood at Rs 96.79 a litre this morning, while diesel is being sold at Rs 89.96 a litre. In Chandigarh, the petrol and diesel prices remained the same at Rs 96.20 and Rs 84.26 a litre, respectively.
In Lucknow, petrol prices stood at Rs 96.57 a litre and diesel at Rs 89.76. In Gurugram, the price was at Rs 97.18 a litre and that of diesel rose by 33 paise to Rs 90.05.
Currently, petrol in Delhi is being sold at Rs 96.72 a litre while diesel is being sold at Rs 89.62 a litre. Whereas in Mumbai, petrol is available at Rs 106.31 and diesel at Rs 94.27 per litre. While petrol in Kolkata is 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 on a daily basis, and rates are determined in accordance with the price of crude oil throughout the world.
Crude Oil Prices
Oil prices slumped more than 2% on Friday on investor skepticism about the depth of OPEC+ supply cuts and concern about sluggish global manufacturing activity.
Brent crude futures for February settled down $1.98, or 2.45%, at $78.88 a barrel. U.S. West Texas Intermediate crude futures (WTI) dropped $1.89, or 2.49%, to $74.07 a barrel. For the week, Brent posted a decline of about 2.1%, while WTI lost more than 1.9%.
OPEC+ producers agreed on Thursday to remove around 2.2 million barrels per day (bpd) of oil from the global market in the first quarter of next year, with the total including a rollover of Saudi Arabia and Russia’s 1.3 million bpd of current voluntary cuts.
Why do fuel prices vary across states?
The rates for each day, whether new or unchanged, are announced at 6 am on the day. These, however, vary from state to state; this is due to criteria such as Value Added Tax (VAT), freight charges, local taxes, etc.
How to Check Petrol, and Diesel Prices City-Wise?
You can also know the daily rate of petrol and diesel through SMS. Indian Oil customers can get information by sending RSP and their city code to 9224992249 and BPCL customers can get information by sending an SMS to 9223112222 by typing RSP and their city code. Whereas, HPCL consumers can know the price by sending HPPrice and their city code to 9222201122.
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