Petrol and diesel prices unchanged in most cities. Check latest rates for August 2 here

Petrol and diesel prices on August 2: Oil marketing companies have kept the fuel rates constant on Wednesday, August 2, across New Delhi, Kolkata, Mumbai, and Chennai. Prices across major metropolitan cities have been steady over the last one year with minor fluctuations here and there.  

The petrol and diesel rates are revised every day and are announced at 6 am on the day. The rates vary from state to state due to value-added tax (VAT), freight charges, local taxes, etc. The Centre regulates fuel prices through excise duty, base prices and cap prices. 

On August 2, in Delhi, the price of petrol is Rs 96.72 per liter, while diesel is being sold at Rs 89.62 per litre. In Mumbai, petrol is available for Rs 106.31 per liter, while diesel price is Rs 94.27 per litre.  

In Kolkata, the cost of petrol is Rs 106.31 per liter, while diesel priced at Rs 92.76 per liter. In Chennai, petrol is available for Rs 102.63 per liter, while diesel is being sold for Rs 94.24 per litre. 

Prices in states 

Petrol has become cheaper by 11 paise and diesel by 11 paise in Noida, Uttar Pradesh. The petrol price is now at Rs 96.65 a litre and Rs 89.82 a litre.’  

In Lucknow, petrol price dropped by 15 paise to Rs 96.42 a litre and diesel by 14 paise to Rs 89.82 a litre. Petrol has become cheaper by 11 paise to Rs 107.48 a liter in Patna, while diesel has fallen by 10 paise to Rs 94.26 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 96.89     

Diesel: Rs 89.76 

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 96.92     

Diesel: Rs 90.09    

Ghaziabad

Petrol: Rs 96.58

Diesel: Rs 89.75

On Monday, the Centre implemented a significant hike in the Special Additional Excise Duty (SAED) on certain petroleum products, effective from August 1, 2023. According to the new regulations, the SAED on crude petroleum has been increased from Rs 1,600 per tonne to Rs. 4,250 per tonne.

Global crude oil prices 

Oil prices went up by more than 1 per cent on Wednesday, and touched nearly the highest level since April, after industry data showed a much steeper-than-expected draw last week in crude oil inventories in the US, the world's biggest fuel consumer. 

Brent crude futures for October rose 92 cents, or 1.1 per cent, to $85.83 a barrel by 0001 GMT, while U.S. West Texas Intermediate crude climbed 84 cents, or 1.03 per cent, to $82.21 a barrel. 

“Crude oil traded steady above $81 per barrel in the international markets despite strong gains in the dollar index and the U.S. bond yields. A sharp decline in the U.S. oil stocks and global supply concerns due to OPEC+ output cuts are supporting the global crude oil prices. As per the U.S. API report released on Tuesday, crude oil inventories in the U.S. fell by 15.4 million barrels for the week ended July 28 against the expected decline of 1.37 million barrels. We expect crude oil prices to remain volatile in today’s session. Crude oil has support at $81.40–80.70 and resistance is at $82.90–83.50 in today’s session. In INR, crude oil has support at Rs 6,630-6,540, while resistance is at Rs 6,790–6,860,” said Rahul Kalantri, VP Commodities, Mehta Equities Ltd. 

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