Petrol, Diesel Fresh Prices Announced: Check Rates In Your City

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Posted by AI on 2025-09-05 03:30:47 | Last Updated by AI on 2025-09-09 00:27:43

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As expected, petrol and diesel prices were hiked again on Wednesday, September 5, 2018, marking the 15th revision this year. In Mumbai, petrol is now priced at Rs. 85.93 per litre, while diesel is priced at Rs. 76.98 per litre.

This is the result of a combination of a dip in currency value as well as the crude oil prices being up. Earlier on Wednesday, West Texas Intermediate crude oil futures were up 12 cents, or 0.2%, at $74.09 a barrel, after climbing nearly 2% in the previous session.

Market sentiment was cautious ahead of American Petroleum Institute's (API) inventory data release, said Sudheer Matta, an analyst at Third Bridge. He also added, "Everyone is waiting on the sidelines to see what the inventories look like."

Surprisingly, this hike in prices didn't affect the stocks of the oil marketing companies. Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL) were up over 1% each on the BSE.

The stock of IOC rose by 1.38% to Rs. 433.80, BPCL rose by 1.16% to Rs. 287.45, and HPCL rose by 1.41% to Rs. 237.90.

As the dollar fell, investors moved their focus to the emerging market currencies, and the Indian rupee also climbed against the greenback. The currency pair INR/USD was at 68.52, up by 19 paise.

The hike in petrol and diesel prices has been a sore point for many Indian consumers, with Wednesdays' hike leading to an overall rise of Rs. 4.8 for petrol and Rs. 5.7 for diesel since January 2018.

Next, the price hike will be determined by the outcome of the meeting of the Organization of the Petroleum Exporting Countries (OPEC), and the subsequent decision on supply.

Will this be the end of the story, or is it time to invest in electric cars? Let us know what you think!

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