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Petrol, Diesel price today, November 12: Crude oil rate dips, but fuel costs unchanged in India

Prices of petrol and diesel remained the same across the country for the 8th consecutive day

Petrol Diesel price today November 12 Crude oil rate dips, but fuel costs are unchanged in India
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New Delhi, First Published Nov 12, 2021, 8:22 AM IST
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Despite a slight decline in the price of crude oil in the global markets, oil marketing companies did not reduce the cost of petrol and diesel in the country on Friday.  According to the Bloomberg Commodity Index, the rate of US West Texas Intermediate benchmark and ICE Brent crude have fallen by 0.50 per cent. However, the prices of petrol and diesel remained the same across the country for the 8th consecutive day. For the uninitiated, oil marketing companies fix the prices of fuel based on the international market fluctuation while the cost varies across the country depending on the local tax rates.

Even though the Centre had reduced the excise duty on petrol and diesel, and over 23 states and Union Territories had slashed the Value Added Tax on fuel at their end, the cost of petrol in many cities remains over Rs 100 per litre.  Hence, one sees petrol being sold in the national capital New Delhi at Rs 103.97 per litre, Rs 104.67 per litre in Kolkata, Rs 109.98 per litre in Mumbai and Rs 101.40 per litre in Chennai. 

Prices of diesel too remained the same for the 8th consecutive day on Friday. While diesel was being sold in the national capital New Delhi for Rs 86.67 per litre in New Delhi, in Kolkata it costs Rs 89.79 per litre. In Mumbai, diesel costs Rs 94.14 per litre and in Chennai, the rate is Rs 91.43 per litre. Experts anticipate the cost of diesel to increase in the days to come.

Here are the fuel rates in other cities across the country:

Bangaluru

Petrol: Rs 100.58 per litre
Diesel: Rs 85.01 per litre

Thiruvananthapuram

Petrol: Rs 106.36 per litre
Diesel: Rs 93.47 per litre

Hyderabad

Petrol: Rs 108.20 per litre
Diesel: Rs 94.62 per litre

Bhopal

Petrol: Rs 107.23 per litre
Diesel: Rs 90.87 per litre

Lucknow

Petrol: Rs 95.28 per litre
Diesel: Rs 86.80 per litre

Gandhinagar

Petrol: Rs 95.35 per litre
Diesel: Rs 89.33 per litre

Guwahati

Petrol: Rs 94.58 per litre
Diesel: Rs 81.29 per litre

Brent crude price declined for the second day in a row. According to the data, a decline of 0.56 per cent was seen. This has resulted in the price of Brent crude coming down to $82.41 per barrel. On the other hand, there is also a fall in the price of US oil WTI, due to which the price has come down to $ 81.17 per barrel.

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