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Petrol price remains unchanged today, diesel rate cut by 7 paise

On Sunday, petrol price remained unchanged while diesel rate was cut by 7 paise a litre as per the details released by the state-owned Indian Oil Corporation (IOCL).

So now, a litre of diesel costs Rs 67.80 in Mumbai, and Rs 64.70 in Delhi, while a litre of petrol is priced at Rs 77.60 in Mumbai, and Rs 71.94 in Delhi. Retail prices of the two automobile fuels are revised daily. Petroleum companies revise petrol and diesel prices on the basis of crude prices in the international market. Hence the prices vary according to the company.

On the Multi Commodity Exchange, crude oil for delivery in February traded higher by Rs 4, or 0.11 per cent, to Rs 3,679 per barrel in 28,094 lots. Crude oil for March delivery was up by Rs 8, or 0.22 per cent, to Rs 3,710 per barrel with an open interest of 943 lots.

Globally, West Texas Intermediate was trading higher by 0.16 per cent at USD 51.50 per barrel. Meanwhile, Brent crude, the international benchmark, edged up 0.09 per cent to USD 56.39 per barrel in New York.