Fuel prices remained unchanged for 110 days in a row across metro cities on Wednesday.
In December 2021, the Delhi government had reduced the value-added tax on petrol from 30 per cent to 19.40 per cent. With this, petrol prices in the national capital were slashed by Rs 8.56 per litre.
In Delhi, petrol costs Rs 95.41 a litre while the rate of diesel was Rs 86.67 per litre.
In Mumbai, petrol can be bought at Rs 109.98 per litre and diesel costs Rs 94.14 for one litre. Among the metro cities, fuel rates are still the highest in Mumbai. Fuel prices vary across the states due to value-added tax or VAT.
Diesel and petrol prices also remained static in Kolkata at Rs 89.79 and Rs 104.67. In Chennai too, they remained unchanged at Rs 91.43 and Rs 101.40.
State-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum revise the fuel rates on a daily basis, by taking into account the crude oil prices in the international markets, and the rupee-dollar exchange rates.
Crude oil prices rose Rs 150 to Rs 7,018 per barrel on Wednesday, as participants widened their positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for the March delivery traded higher by Rs 150, or 2.18 per cent, at Rs 7,018 per barrel in 8,817 lots.
Globally, West Texas Intermediate crude oil jumped 3.95 per cent to USD 94.67 per barrel, while Brent crude traded 2.17 per cent higher at USD 97.46 per barrel in New York.
(With inputs from Agencies)
