Price of fuel on September 2

2 Sep 2022 , 08:50 AM

According to the most recent price notice sent out by fuel merchants, gasoline and diesel prices were stable on September 2 throughout metro areas.

The cost of fuel has not changed in over a month. Delhi’s prices for gasoline and diesel per liter are Rs96.72 and Rs89.62, respectively. In Chennai and Kolkata, the prices for gasoline and diesel, respectively, are Rs102.63 and Rs94.24 and Rs106.03, and Rs 92.76. Diesel costs Rs94.27 and gasoline costs Rs106.31 a liter in Mumbai.

Prices for commercial LPG cylinders have been reduced by Rs91.50 as of today. A 19-kilogram commercial LPG cylinder in Delhi would now cost Rs1,885, as opposed to Rs1,976.

Despite rising international oil costs, state-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) have not increased the pricing of gasoline and diesel for about five months now.

International oil prices have moderated, allowing Indian fuel merchants to break even on gasoline and local cooking gas LPG, but they are still losing money on diesel, the nation’s most popular fuel.

OPEC+ is expected to discuss output reductions at their meeting on September 5; however, despite Friday’s increase in oil prices, the benchmarks were still on pace to post their worst weekly loss in four weeks due to concerns that COVID-19 restrictions in China and slow global growth will hurt demand.

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