Oil price rise in India is way below global price hikes: Hardeep Singh Puri
The minister also highlighted India's commitment to accelerating a just and sustainable energy transition at the ministerial dialogue on India-US strategic clean energy.
Fuel prices across the four major metropolitan cities continued to remain static on Wednesday. This is the 23rd day in a row when the oil marketing companies have kept the retail fuel prices unchanged. The prices of petrol and diesel were last raised on December 7.
In New Delhi, petrol was priced at Rs 83.71 per litre and diesel was at Rs 73.87.
In other metropolitan cities like Mumbai, Chennai and Kolkata, petrol was sold for Rs 90.34, Rs 86.51 and Rs 85.19 per litre, respectively.
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Similarly, diesel prices in Mumbai, Chennai and Kolkata have been static at Rs 80.51, Rs 79.21 and Rs 77.44 per litre, respectively.
The OMCs— Indian Oil, Bharat Petroleum, and Hindustan Petroleum, have gone on a pause mode amid a rise in crude oil prices as Brent crude has been trading at over the $50 per barrel mark on the back of commencement of vaccination drives in several countries to counter the pandemic and expectations of a big pickup in demand.
Any changes in petrol or diesel prices are implemented on a daily basis with effect from 6 am. The fuel rates vary from state to state due to the value-added tax (VAT).
The February contract of Brent on the Intercontinental Exchange (ICE) is currently trading around $51.27 per barrel, higher by 0.35 per cent from its previous close. The February contract of WTI crude on NYMEX is currently trading around $48.25 per barrel, higher by 0.52 per cent.
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