Petrol and diesel prices in the country continued to remain steady on Friday, keeping rates stagnant for over eight months now. In the national capital, petrol is being sold at ₹96.72, while diesel is priced at ₹89.62 per litre. In the financial capital of Mumbai, petrol stands at ₹106.31 per litre, while diesel is retailing at ₹94.27 per litre. The price of fuel in Kolkata is ₹106.03 per litre for petrol and ₹92.76 per litre for diesel. In Bengaluru, people can buy petrol at ₹101.94 per litre and diesel at ₹87.89 per litre.
Finance Minister Nirmala Sitharaman had cut excise duty on petrol by ₹8 per litre and ₹6 per litre on diesel in May 2022. State-run oil marketing companies (OMCs) like Indian Oil, Hindustan Petroleum and Bharat Petroleum change fuel prices daily at 6 am as per the global rates.
Oil prices extended gains for a second session on Friday as the prospect of lower exports from Russia offset rising inventories in the United States.
For the week, oil prices are slightly lower, after the previous week’s about 4% declines, dragged by concerns about rising interest rates that could strengthen the dollar as well as a ninth straight week of U.S. crude stocks build.