Fuel prices once again remained stable across the country except Maharashtra on August 3. The Maharashtra government has announced a reduction in Value Added Tax (VAT) on petrol and diesel by Rs 5 per liter and Rs 3 per liter respectively on July 15, 2022. However, for the rest of the cities, petrol and diesel prices were left untouched by oil marketing companies after Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by Rs 8 per liter and on diesel by Rs 6 per liter.
Petrol, Diesel Price in Delhi, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad and other cities
Petrol, Diesel Price in Delhi, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad and other cities
Retail petrol and diesel prices vary from state to state due to local taxes such as VAT or freight charges. The government on August 2 reduced diesel export tax by Rs 5 per liter and also abolished tax on ATF. Petrol export tax was removed early last month.
crude oil price
On Wednesday 3 August, crude oil prices continued to fall due to low economic activity across the world. Brent crude futures were down 94 cents at $99.60 a barrel, while WTI crude was down 86 cents at $93.74 a barrel, according to Reuters.