On August 8, the prices of petrol and diesel were again left untouched by the oil marketing companies. Now after 75 days, except in Maharashtra, fuel prices in the Indian market remain stable. The Maharashtra government had last month announced reduction of value-added tax (VAT) on petrol and diesel by Rs 5 per liter and Rs 3 per liter respectively. Fuel prices in India have remained stable 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.
Petrol price in Delhi today is Rs 96.72 per liter as against Rs 105.41 per liter in excise duty earlier, while diesel price in Delhi is Rs 89.62 per liter as against Rs 96.67 per litre. The price of a liter of petrol in Mumbai is Rs 106.31 per liter, while the price of a liter of diesel is Rs 94.27 per liter today.
Petrol price in Delhi today is Rs 96.72 per liter as against Rs 105.41 per liter in excise duty earlier, while diesel price in Delhi is Rs 89.62 per liter as against Rs 96.67 per litre. The price of a liter of petrol in Mumbai is Rs 106.31 per liter, while the price of a liter of diesel is Rs 94.27 per liter today.
Bharat Petroleum Corporation Limited (BPCL), Indian Oil Corporation Limited (IOCL) and Hindustan Petroleum Corporation Limited (HPCL) have fixed daily fuel prices in line with international benchmark prices and foreign exchange rates. 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 Monday due to fears of recession and inflation concerns around the world. On August 8, Brent crude futures were down 74 cents at $94.18 a barrel, while WTI crude was down 67 cents at $88.34 a barrel.