Petrol and diesel prices on Tuesday remained steady across metro cities for more than a month.
New Delhi:
Petrol and diesel prices on Tuesday remained steady across metro cities for more than a month. On May 21, the Centre announced a cut in excise duty on petrol and diesel by ₹ 8 and ₹ 6 a litre, respectively. The move marked a reduction of petrol rates by ₹ 9.5 per litre and diesel by ₹ 7 a litre.
In Delhi, a litre of petrol costs ₹ 96.72, while the diesel rate stands at ₹ 89.62 per litre.
Petrol is currently retailed at ₹ 111.35 per litre in Mumbai, while diesel is sold at ₹ 97.28.
Petrol now costs ₹ 102.63 in Chennai, while diesel price stands at ₹ 94.24. In Kolkata, petrol is retailed at ₹ 106.03 and diesel is sold at ₹ 92.76.
Fuel prices are the highest in Mumbai among all four metro cities. The rates vary across states due to the value-added tax (VAT).
State-run oil refiners such as Indian Oil Corp, Bharat Petroleum, and Hindustan Petroleum revise the fuel rates on a daily basis, by taking into account the crude oil prices in the international markets, and the rupee-dollar exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.
India imports 85 per cent of its crude oil needs, and the domestic fuel rates are linked to international rates.
Globally, oil prices rose about 1 per cent in early trade today. Brent crude futures jumped $1.08, or 0.9 per cent, to $116.17 a barrel. U.S. West Texas Intermediate (WTI) crude futures climbed $1.07, or 1 per cent, to $110.64 a barrel.
Source:ndtv.com