Petrol, Diesel Rates on January 2: Prices constant in Delhi, Mumbai, Kolkata, Chennai; some cities see minor revision

Petrol and diesel prices on January 2: Indian oil marketing companies have kept the petrol and diesel prices constant in New Delhi, Kolkata, Mumbai, and Chennai on Wednesday, November 1. There were minor tweaks in some states.

The Indian government has kept the fuel rates at a steady level since last May. On May 21, 2022, Finance Minister Nirmala Sitharaman revised the excise duty and slashed it on petrol by Rs 8 per litre and Rs 6 per litre on diesel.  

In Delhi, petrol price stands at Rs 96.72 per litre, while diesel is being sold at Rs 89.62 per litre. In Mumbai, petrol is being sold for Rs 106.31 per litre, while diesel is available for Rs 94.27 per litre.  

In Kolkata, the cost of petrol is Rs 106.31 per litre inclusive of taxes, diesel is available for Rs 92.76 per litre with taxes. In Chennai, petrol is available at Rs 102.63 per liter, while diesel can be obtained at Rs 94.24 per liter.

Here is the fresh price chart for major cities:

Lucknow   Petrol: Rs 96.57 and  Diesel: Rs 89.76 

Chandigarh Petrol Rs 96.20 per liter and diesel Rs 84.26 per liter.

Jaipur: Petrol Rs 96.20 per liter and diesel Rs 93.72 per liter

Patna: Petrol Rs 107.24 per liter and diesel Rs 94.04 per liter

Hyderabad: Petrol Rs 109.66 per liter and diesel Rs 97.82 per liter

Bengaluru Petrol Rs 101.94 per liter and diesel Rs 87.89 per liter.

Chennai    Petrol: Rs 102.86 and   Diesel: Rs 94.46 

Gurugram   Petrol: Rs 96.84 and  Diesel: Rs 89.72    

Kolkata   Petrol: Rs 106.03 and  Diesel: Rs 92.76 

Mumbai   Petrol: Rs 106.31 and  Diesel: Rs 94.27 

New Delhi    Petrol: Rs 96.72 and  Diesel: Rs 89.62 

Noida  (Gautam Buddha Nagar)   Petrol: Rs 96.59 and Diesel: Rs 89.96   

Ghaziabad Petrol: Rs 96.58 and Diesel: Rs 89.75

Last week, shares of BPCL, HPCL, and Indian Oil Corporation fell up to 4 per cent over the possible reduction in petrol and diesel prices before the upcoming general elections in May. The price cut may range from Rs 4 to Rs 6 per litre. The government and OMCs are considering sharing the burden of the price cut.

Crude Oil

In Asian trade on Tuesday, there was a slight rise in oil prices. This recovery came as a glimmer of hope following the significant losses experienced in 2023. The boost in prices can be attributed to the retaliatory actions undertaken by US forces against the Iran-backed Houthi group, which has been causing turmoil in the Red Sea region. Unfortunately, despite these measures, the conflict shows no signs of de-escalation, leaving the situation in a tense and uncertain state.

Brent oil futures jumped 1.2 per cent to $77.94 a barrel, while West Texas Intermediate crude futures rose 1.1 per cent to $72.60 a barrel by 01:22 GMT.

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