Petrol, diesel revised price chart on August 24: Check current rates in major cities here

Petrol and diesel prices on August 24: Petrol and diesel prices were at the same level across the major cities on Thursday, August 24. After the daily revision by oil marketing companies, the price of petrol in Delhi is Rs 96.72 per litre and diesel costs Rs 89.62 per litre.

In Mumbai, petrol is available at Rs 106.31 and diesel at Rs 94.27 per litre. In Kolkata, petrol price is at Rs 106.03 and diesel can be bought for Rs 92.76 per litre. In Chennai, petrol is being sold at Rs 102.63 and diesel at Rs 94.24 per litre in Chennai.

The last pan-India rate revision was done in May 2022, when Finance Minister Nirmala Sitharaman reduced the excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel on May 21, 2022.

The fuel prices are calculated after adding on a number of levies and therefore, they differ from state to state. These levies are Value Added Tax (VAT), freight charges, local taxes, etc.

Due to this, some states saw minor revision in fuel rates. In Noida, petrol is available for Rs 96.65 a litre after a fall of 27 paise. Diesel also fell by 25 paise and touched Rs 89.80 a litre. In Lucknow, petrol price dipped by 11 paise to Rs 96.47 a liter and diesel fell by 10 paise to Rs 89.91 a litre.

In Jaipur, petrol price went up by 5 paise and stood at Rs 108.48 a litre, while diesel has gone up by 5 paise to Rs 93.72 a litre.

Bengaluru

Petrol: Rs 101.94

Diesel: Rs 87.89

Chandigarh

Petrol: Rs 98.65

Diesel: Rs 88.95

Chennai

Petrol: Rs 102.86

Diesel: Rs 94.46

Gurugram

Petrol: Rs 96.66

Diesel: Rs 89.54

Kolkata

Petrol: Rs 106.03

Diesel: Rs 92.76

Lucknow

Petrol: Rs 96.43

Diesel: Rs 89.65

Mumbai

Petrol: Rs 106.31

Diesel: Rs 94.27

New Delhi

Petrol: Rs 96.72

Diesel: Rs 89.62

Noida (Gautam Buddha Nagar)

Petrol: Rs 96.65

Diesel: Rs 89.80

Ghaziabad

Petrol: Rs 96.58

Diesel: Rs 89.75

The Narendra Modi-led government is considering a plan to reduce taxes applicable on petrol prices in addition to easing import tariffs on expensive items like cooking oil and wheat.

News reports stated that government officials are considering a plan to reallocate as much as Rs 1 lakh crore from the budgets of various ministries to contain surging food and fuel costs.

Global crude oil

Oil prices slipped in early Asian trade on Thursday as weak manufacturing data in major economies outweighed optimism around a larger-than-expected drop in US crude stocks, Reuters reported.

Markets are also looking for hints on the outlook for how long interest rates will remain at current levels ahead of a speech by Federal Reserve Chair Jerome Powell at a central bank symposium in Jackson Hole, Wyoming, starting on Thursday.

Brent crude fell 27 cents, or 0.3 per cent, to $82.94 a barrel by 0002 GMT, while U.S. West Texas Intermediate crude dropped 31 cents, or 0.4 per cent, to $78.58. a barrel.

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"Crude oil prices extended fall, as WTI prices slipped below $79 a barrel and Brent prices eased below $83 a barrel amid Chinese demand worries and disappointing flash manufacturing PMI data of major global economies, which increased fears of crude oil demand in the upcoming months. Crude oil also struggled following China's disappointing imports and exports data. However, the decline in the US crude oil inventories supported crude oil prices at lower levels. We expect crude oil prices to remain volatile and short covering might be seen in today’s session. Crude oil has support at $77.80–77.10 and resistance is at $79.40–80.20 in today’s session. In INR Crude oil has support at Rs 6,460-6,400, while resistance is at Rs 6,640–6,710," said Rahul Kalantri, VP Commodities, Mehta Equities Ltd.