Petrol and diesel prices remained unchanged across metro cities for more than 100 days on Thursday. This is the longest duration when the rates have remained static.
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 by Rs 436 to Rs 8,341 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 436 or 5.52 per cent at Rs 8,341 per barrel in 13,911 lots.
Globally, West Texas Intermediate crude oil was up 6.6 per cent to USD 110.24 per barrel, while Brent crude traded 6.41 per cent higher at USD 111.7 per barrel in New York.
(With inputs from Agencies)
