Petrol, Diesel Prices Today: There was no change in fuel prices in metro cities for the eighth consecutive day on Thursday. Rates were last hiked by 80 paise per liter on April 6, the 14th hike since March 22, which made petrol and diesel costlier by Rs 10 per liter respectively.
In Delhi, a liter of petrol costs Rs 105.41 while diesel costs Rs 96.67 per litre.
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Petrol in Mumbai is being sold at Rs 120.51 per liter, while diesel is being sold at Rs 104.77 per litre. Mumbai has the highest fuel prices among all the four metro cities. Prices vary from state to state due to Value Added Tax (VAT).
Fuel rates remained stagnant for more than four months despite a hike in crude oil prices.
Prices were capped in the midst of assembly elections in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur.
State-run oil refiners like Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel rates on a daily basis, taking into account crude oil prices and rupee-dollar exchange rates in international markets. Any change in fuel prices is effective from 6 am every day.
India is 85 per cent dependent on imports to meet its oil needs and domestic petrol and diesel prices are linked to international rates.
Globally, oil futures were slightly lower today as traders built higher than expected in US oil stocks against consolidating global supplies. US crude fell 0.64 per cent to $103.58 per barrel. Brent crude fell to $108.25 per barrel.
- More than 6 crore policyholders showed interest in buying
- Minutes of RBI’s April meeting – Focus on inflation:
- Industry body urges government to engage with Indonesia
- Decline in cryptocurrency trading volume on Indian exchanges
- Palm oil prices will rise by up to 15% due to ban on Indonesia’s exports
- Raising policy rates to check inflation is not “anti-national”
- ICICI Bank shares jump nearly 2% on strong earnings report
- After Reliance, shares of Future Group firms fell nearly 20%
- Rupee weakens to 76.65 on dollar’s strength driven by US Fed
- Small size of LIC IPO puts India’s fiscal deficit at risk