Diesel price rose by ₹2 this month. 5 things to know about petrol, diesel rates

With crude oil rates hitting a three-month high this month, diesel price has gone up by ₹2 a litre in December while the price of petrol is up only by 13 paise a litre. The difference in the price of the two fuels is due to a price gap in its international benchmark rates.

In New Delhi, a litre of petrol today costs ₹75.04 and diesel ₹67.78. In Mumbai, a litre of petrol costs ₹80.69 a litre and diesel ₹71.12 a litre. If you are in Bengaluru, you pay ₹77.61 for petrol and ₹70.09 for diesel. In Chennai, petrol costs ₹78.02 for petrol and ₹71.67 for diesel. Those in Hyderabad will have to pay ₹79.85 for petrol and ₹73.96 for diesel. In Gurgaon, you pay ₹74.53 for petrol and ₹66.84 for diesel.

5 things to know about petrol, diesel prices:

1) The price of petrol has gone up by ₹6.39 a litre this year while diesel price is up by ₹5.12 a litre this year.

2) Crude oil prices are now around a three-month high following a higher-than-expected crude inventory drawdown and optimism over an expected US-China trade deal.

3) West Texas Intermediate (WTI) crude futures edged up 1 cent to $61.73 a barrel. The U.S. benchmark is up about 36% so far this year. Brent crude futures were at $68.28 a barrel, up 12 cents. The international benchmark has risen around 27% in 2019.

4) Domestic petrol and diesel prices are reviewed by oil marketing companies on a daily basis. Petrol and diesel prices are revised every day at 6 am to sync it with the variation in global oil prices.

5) The government is said to be planning to introduce methanol-blended fuel, a move which will cut pollution as well as reduce petrol, diesel prices by around 10%.