State-run oil marketing companies kept the petrol and diesel rates unchanged for 17th straight day on Friday, December 25. In the national capital, the price of petrol remained unchanged at ₹ 83.71 per litre, and diesel also remained the same at ₹ 73.87 per litre — the same level as on Thursday, according to Indian Oil Corporation, the country’s largest fuel retailer. In Mumbai, petrol and diesel rates were ₹ 90.34 per litre and ₹ 80.51 per litre respectively. The fuel prices in Mumbai are the highest among the four metros across the country.
The oil marketing companies in India namely, Indian Oil, Bharat Petroleum, and Hindustan Petroleum align the domestic fuel prices with that of global benchmarks by taking into account any changes in the foreign exchange rates. Any alterations in fuel prices are implemented with effect from 6 am every day. The fuel rates vary from state to state due to the value-added tax (VAT).
Meanwhile, brent crude futures, the global oil benchmark, fell 0.35 per cent to $ 51.02 per barrel and the rupee surged by 21 paise to settle at 73.55 on Thursday, December 24.