Today’s Petrol-Diesel Prices: Know the Updated Rates in Major Cities on February 10
Fuel rates in India are updated every day at 6 am. Oil marketing companies (OMCs) release new petrol and diesel prices daily. The major oil marketing companies like Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) update petrol and diesel prices on their official websites. The biggest reason for the change in fuel rates is the fluctuation in crude oil prices. OMCs determine the prices of petrol and diesel keeping in mind the prices of crude oil in the international market.
Today’s petrol prices in the major cities of India (₹ per litter)
New Delhi: ₹94.77
Kolkata: ₹105.01
Mumbai: ₹103.50
Chennai: ₹100.80
Today’s diesel prices in the major cities of India (₹ per littre)
New Delhi: ₹87.67
Kolkata: ₹91.82
Mumbai: ₹90.03
Chennai: ₹92.39
Daily revision of petrol and diesel prices benefits consumers. Most importantly, it keeps people informed about daily changes. If petrol prices were revised every 15 days, a big change would be seen at once, which would increase the economic pressure on consumers.
Petrol and diesel prices in India mainly depend on international market prices. Companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum decide them. When crude oil prices rise in the international market, the prices of petrol and diesel also increase in India. Conversely, if crude oil prices fall, the fuel rates also fall.
Oil prices have increased in the global market, making petrol and diesel expensive in India. By October 2023, Brent crude oil prices increased by about 15%, which directly affected the Indian market.
