Petrol and diesel prices remained unchanged for 103 days in a row across metro cities on Tuesday.
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.
Accordingly, a litre of petrol costs Rs 95.41 in Delhi, while diesel rates stand at Rs 86.67 per litre.
In Mumbai, petrol is retailed at Rs 109.98 per litre, while diesel is being sold at Rs 94.14 per 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 fell Rs 36 to Rs 7,072 per barrel on Tuesday after participants reduced their positions. On the Multi Commodity Exchange, crude oil for the February delivery dropped by Rs 36, or 0.51 per cent, to Rs 7,072 per barrel with a business volume of 9,481 lots.
Globally, West Texas Intermediate crude oil was trading 1.84 per cent lower at USD 93.70 per barrel. Meanwhile, international benchmark Brent crude was quoting 1.72 per cent lower to trade at USD 94.82 per barrel in New York.
(With inputs from Agencies)
