Fuel rates in India: Petrol and diesel prices today on January 28. (Representative image)
Petrol prices in India vary across states and range between Rs 96 and Rs 106, while diesel remains in the range of Rs 84-Rs 94
Petrol and Diesel Prices on January 28: Even as crude oil prices rose for a second week in a row and settled at their highest in nearly two months on Friday, petrol and diesel prices in India on Sunday continue to remain largely unchanged. In the country, petrol prices vary across states and range between Rs 96 and Rs 106, while diesel remains in the range of Rs 84-Rs 94.
According to government oil companies, in Uttar Pradesh’s Gautam Budh Nagar district (Noida-Greater Noida), the price stood at Rs 96.79 a litre this morning, while diesel is being sold at Rs 89.96 a litre. In Chandigarh, the petrol and diesel prices remained the same at Rs 96.20 and Rs 84.26 a litre, respectively.
In Lucknow, petrol prices stood at Rs 96.57 a litre and diesel at Rs 89.76. In Gurugram, the price was at Rs 97.18 a litre and that of diesel rose by 33 paise to Rs 90.05.
Currently, 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 on a daily basis, and rates are determined in accordance with the price of crude oil throughout the world.
Crude Oil Prices
Oil prices rose for a second week in a row and settled at their highest in nearly two months on Friday as positive US economic growth and signs of Chinese stimulus boosted demand expectations, while Middle East supply concerns added support.
Brent crude futures rose $1.12, or 1.4 per cent, to settle at $83.55 a barrel, their highest close since November 30. US West Texas Intermediate crude (WTI) climbed 65 cents or 0.8 per cent to $78.01, also the highest close since November.
Both benchmarks made weekly gains of more than 6%, marking their biggest weekly increase since the week ending Oct. 13 after the start of the Israel-Hamas conflict in Gaza.
Why do fuel prices vary across states?
The rates for each day, whether new or unchanged, are announced at 6 am on the day. These, however, vary from state to state; this is due to criteria such as Value Added Tax (VAT), freight charges, local taxes, etc.