Petrol, Diesel Fresh Prices Announced For January 2: Check Fuel Rates In Your City

Petrol, and Diesel Prices on January 2: Oil prices jumped 1% on Tuesday, starting the New Year higher as a Red Sea naval clash focused attention on potential Middle East supply disruptions and expectations of Chinese economic stimulus boosted the demand outlook in the world’s top crude importer. Brent crude rose $1.03, or 1.3%, to $78.07 a barrel by 0225 GMT while U.S. West Texas Intermediate crude was at $72.53 a barrel, up 88 cents, or 1.2%. Oil marketing companies in the country have released the latest rates of petrol and diesel. In India, fuel prices are revised every morning at 6 am. Before June 2017, price revision was done every 15 days.

Today, there is very little change in the prices of petrol and diesel at the state level. In Bihar, petrol has become cheaper by 42 paise and diesel by 39 paise. Petrol and diesel have become cheaper by 17 paise in Goa. The prices of petrol and diesel have increased in Jharkhand. In Uttarakhand too, there is an increase of 23 paise in the price of petrol.

At present, petrol in Delhi is being sold at Rs 96.72 a litre while diesel is being sold at Rs 89.62 a litre. Whereas in Mumbai, petrol is available at Rs 106.31 and diesel at Rs 94.27 per litre. While petrol in Kolkata is Rs 106.03 and diesel is Rs 92.76 per litre. On the other hand, petrol is being sold at Rs 102.63 and diesel at Rs 94.24 per litre in Chennai.

In India, oil marketing companies (OMCs) such as Indian Oil, Bharat Petroleum and Hindustan Petroleum determine petrol and diesel prices. This is done daily, and rates are determined following the price of crude oil throughout the world.

Why do fuel prices vary across states?