Petrol and diesel prices on July 27 remain stable again for more than two months. Oil marketing companies continue to sell both the fuels at similar prices. Recently, the Maharashtra government announced a reduction in VAT on petrol and diesel by Rs 5 per liter and Rs 3 per liter respectively – a move that will cost the state exchequer Rs 6,000 crore annually. Apart from Maharashtra, fuel prices in Delhi, Mumbai, Bengaluru, Chennai, Kolkata, Hyderabad were left untouched as Finance Minister Nirmala Sitharaman announced a cut in excise duty by Rs 8 per liter on petrol and Rs 6 per liter on diesel. Had it.
Petrol, Diesel Prices in Delhi, Mumbai, Bengaluru, Chennai, Kolkata, Hyderabad and other cities
Petrol, Diesel Prices in Delhi, Mumbai, Bengaluru, Chennai, Kolkata, Hyderabad and other cities
Fuel prices are revised on a regular basis by public sector OMCs like Bharat Petroleum Corporation Limited (BPCL), Indian Oil Corporation Limited (IOCL) and Hindustan Petroleum Corporation Limited (HPCL) as per 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
The rise in crude oil prices on Wednesday came after US data showed a sharp fall in crude inventories. Brent crude futures were up 33 cents at $104.73 a barrel, while WTI crude was up 67 cents at $95.65 a barrel, according to Reuters.