On Thursday, petrol and diesel prices remain unchanged despite a fall in crude oil prices in the international market amid coronavirus outbreak.
According to the official website of Indian Oil Corporation, on Thursday, petrol now costs Rs 71.26 per litre in Delhi, Rs 76.31 per litre in Mumbai. Similarly, diesel costs Rs 69.59 a litre in Delhi, Rs 66.21 a litre in Mumbai. In Kolkata, a litre of petrol will cost Rs 73.30 per litre whereas diesel is now priced at Rs 65.62 per litre. In Chennai, a litre of petrol will cost Rs 72.28 per litre whereas diesel is now priced at Rs 65.71 per litre.
In Delhi, petrol price was hiked by Rs 1.67 a litre on May 5 and diesel by a steep Rs 7.10 per litre after the Delhi government raised local sales tax or value-added tax (VAT) on the two fuels. On the other hand, the Assam government on April 22 has increased the Value Added Tax (VAT) on diesel, petrol, and other motor spirits.
Crude oil futures on Wednesday shed 2.16 per cent to Rs 1,906 per barrel as participants trimmed their positions on weak global cues. On the Multi Commodity Exchange, crude oil for May delivery fell by Rs 42, or 2.61 per cent, to Rs 1,906 per barrel with a business volume of 5,977 lots.
Crude oil for June delivery was quoting lower by Rs 54, or 2.66 per cent, at Rs 1,975 per barrel with an open interest of 1,662 lots. Globally, West Texas Intermediate crude oil was trading down by 0.89 per cent at USD 25.55 per barrel. Meanwhile, Brent Crude futures was trading 2.07 per cent lower at USD 29.36 per barrel in New York.
