After 83 consecutive days, petrol and diesel prices remained unchanged again on 16 August. Last month on July 15, the Maharashtra government announced reduction of value added tax (VAT) on petrol and diesel by Rs 5 per liter and Rs 3 per litre. liters respectively. The move will cost the state exchequer Rs 6,000 crore annually.
Fuel prices in India remained untouched for the rest of the cities since May 21, when Finance Minister Nirmala Sitharaman announced an excise duty cut of Rs 8 per liter on petrol and Rs 6 per liter on diesel.
The price of petrol in Delhi today is Rs 96.72 per liter as against Rs 105.41 per liter earlier, while the price of diesel is Rs 89.62 per liter as against Rs 96.67 per litre. Petrol price in Mumbai today is Rs 106.31 per liter and diesel price in Mumbai is Rs 94.27 per liter.
Fuel prices in India remained untouched for the rest of the cities since May 21, when Finance Minister Nirmala Sitharaman announced an excise duty cut of Rs 8 per liter on petrol and Rs 6 per liter on diesel.
The price of petrol in Delhi today is Rs 96.72 per liter as against Rs 105.41 per liter earlier, while the price of diesel is Rs 89.62 per liter as against Rs 96.67 per litre. Petrol price in Mumbai today is Rs 106.31 per liter and diesel price in Mumbai is Rs 94.27 per liter.
Oil marketing companies like Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL) and Indian Oil Corporation Limited (IOCL) set daily fuel prices as per foreign exchange rates and international benchmark prices. Retail petrol and diesel prices vary from state to state due to local taxes such as VAT or freight charges.
crude oil price
Crude oil prices fell on Tuesday due to the China-Taiwan war and fears of a global recession. Brent crude futures were trading at $94.20 a barrel, while WTI crude was down 81 cents at $88.60 a barrel, according to Reuters.