The oil marketing companies (OMCs) kept petrol, diesel prices unchanged across the metro cities on Saturday.
Last month, 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 on Friday fell by Rs 100 to Rs 6,297 per barrel after participants cut their positions. On the Multi Commodity Exchange, crude oil for the February delivery dropped by Rs 100, or 1.56 per cent, to Rs 6,297 per barrel with a business volume of 8,770 lots.
Globally, West Texas Intermediate crude oil was trading 1.44 per cent lower at USD 84.32 per barrel. Meanwhile, international benchmark Brent crude was quoting 1.17 per cent lower to trade at USD 87.35 per barrel in New York.
(With inputs from Agencies)
