Petrol and diesel prices on Tuesday remained stable in all major cities for more than a month. On May 21, the Center announced a reduction in petrol and diesel taxes by ₹ 8 and ₹ 6 liters, respectively. The move marked a reduction in petrol prices by ₹ 9.5 liters and diesel by ₹ 7 liters.
In Delhi, a liter of petrol costs ₹ 96.72, while the diesel level stands at ₹ 89.62 a liter.
Gasoline currently sells for R111.35 a liter in Mumbai, while diesel sells for R97.28.
Petrol now costs R102.63 in Chennai, and the price of diesel stands at 4. 94.24. In Kolkata, petrol sells at 6. 106.03 and diesel sells at 2. 92.76.
Petrol prices are the highest in Mumbai among all four major cities. Rates vary across regions due to value-added tax (VAT).
Government-owned oil filters such as Indian Oil Corp, Bharat Petroleum, and Hindustan Petroleum review petrol prices daily, taking into account crude oil prices in international markets, and dollar exchange rates by the rupee. Any changes in fuel prices are effective from 6 a.m. daily.
India imports 85 percent of its crude oil demand, and domestic oil prices are linked to world standards.
Globally, oil prices rose by about 1 percent in early trading today. Brent crude futures exceeded $ 1.08, or 0.9 percent, to $ 116.17 a barrel. The crude future of the U.S. West Texas Intermediate (WTI) rose $ 1.07, or one percent, to $ 110.64 a barrel.
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