The retail prices of petrol and diesel remained unchanged on Thursday, continuing a 38-day freeze on the automobile fuel rates across the country. Meanwhile, Assam government on Wednesday has increased the Value Added Tax (VAT) on diesel, petrol and other motor spirits.
According to the official website of Indian Oil Corporation, on Tuesday, petrol now costs Rs 69.59 per litre in Delhi, Rs 76.31 per litre in Mumbai. Similarly, diesel costs Rs 62.29 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.
Assam Government said in a Gazette notification on Tuesday, "Value Added Tax in Assam for diesel will be 23.66 paise in the rupee or Rs 17.45 per litre, whichever is higher. VAT for petrol and other motor spirits will be 32.66 paise in the rupee or Rs 22.63 per litre, whichever is higher, with effect from April 22."
Crude oil futures on Wednesday plummeted 29.31 per cent to Rs 936 per barrel as participants trimmed their positions in line with weak trend overseas. On the Multi Commodity Exchange, crude oil for May delivery fell by Rs 388, or 29.31 per cent, to Rs 936 per barrel with a business volume of 13,907 lots.
Crude oil for June delivery was quoting lower by Rs 263, or 14.69 per cent, to Rs 1,527 per barrel with an open interest of 1,178 lots. Globally, West Texas Intermediate crude oil fell 6.74 per cent to USD 10.79 per barrel for the June contract. Meanwhile, Brent Crude June futures contract slipped 10.50 per cent to USD 17.30 per barrel in New York.