What is the latest petrol and diesel price in india? increases up by margin

With Friday's hike, petrol prices have been increased by Rs 3.07-3.29 per litre in the four metros so far this year, while diesel rates raised by Rs 4.47-5 per litre, according to Indian Oil Corporation.

A day after presentation of Indian budget 2018-2019 in Parliament, petrol prices were increased by a margin 5 paise per litre in Delhi, Kolkata, Mumbai and Chennai. Diesel prices in the four metros, however, were left unchanged. Effective 6 am, February 2, 2018, petrol price was at Rs 73.1 per litre in Delhi, Rs 75.79 per litre in Kolkata, Rs 80.96 per litre in Mumbai and Rs 75.82 per litre in Chennai, according to Indian Oil Corporation's website - iocl.com. Diesel prices were at Rs 64.11 per litre in Delhi, Rs 66.78 per litre in Kolkata, Rs 68.27 per litre in Mumbai and Rs 67.62 per litre in Chennai, according to Indian Oil Corporation, the country's largest fuel retailer.

With Friday's hike, petrol prices have been increased by Rs 3.07-3.29 per litre in the four metros so far this year, while diesel rates raised by Rs 4.47-5 per litre, according to Indian Oil Corporation. Domestic petrol and diesel prices are broadly determined by global crude oil rates and foreign exchange rates. In the international market, Brent crude futures - the global benchmark - was qoting 0.3 per cent higher at $69.84 a barrel in recent prices on Friday.

Today’s news highlight

1. Petrol rates hiked by 5 paise/litre in Delhi, Kolkata, Mumbai, Chennai

2. Diesel prices kept unchanged, a day after release of Budget 2018

3. Petrol rates up Rs 3.07-3.29/litre, diesel Rs 4.47-5/litre year-to-date

The basic excise duty on unbranded petrol was slashed by Rs. 2 from Rs. 6.48 per litre and on branded petrol from Rs. 7.66 per litre. Similarly, on unbranded diesel, the additional excise duty was brought down from Rs. 8.33 per litre to Rs. 6.33 per litre and on branded diesel from Rs. 10.69 per litre to Rs. 8.69 per litre.

Finance Secretary Hasmukh Adhia said in a post-Budget media briefing that the changes won't affect the customer, news agency Press Trust of India reported. Only the devolution of cess has been changed, he said.Currently, oil marketing companies - IOC, Hindustan Petroleum Corporation and Bharat Petroleum Corporation - revise the prices of petrol and diesel on a daily basis with effect from 6 am. The PSU oil retailers take into account the global crude oil prices and the rupee-dollar foreign exchange (forex) rate for revising the prices.Previously, petrol and diesel rates were changed every fortnight. Indian Oil and other oil marketing companies adopted a daily revision system on June 16, 2017.