- Advertisement -
Petrol and diesel prices remained steady on August 4 in India, except in Maharashtra. Fuel prices have been reduced by the Maharashtra government as they announced a Value-Added Tax cut on petrol by Rs 5 per litre and diesel by Rs 3 per litre on July 15. This move will cost the state exchequer Rs 6,000 crore annually. Since May 21, petrol and diesel prices have held steady when Finance Minister Nirmala Sitharaman announced an excise duty cut on petrol and diesel by Rs 8 per litre and Rs 6 per litre, respectively.
In Delhi, petrol price today is Rs 96.72 per litre as opposed to Rs 105.41 per litre earlier to the excise duty cut, while the diesel cost today is Rs 89.62 per litre as against Rs 96.67 per litre. Petrol price in Mumbai today stands at Rs 106.31 per litre against Rs 111.35 prior to the VAT cut, while the diesel price in Mumbai is Rs 94.27 per litre as opposed to Rs 97.28 per litre earlier.
In Delhi, petrol price today is Rs 96.72 per litre as opposed to Rs 105.41 per litre earlier to the excise duty cut, while the diesel cost today is Rs 89.62 per litre as against Rs 96.67 per litre. Petrol price in Mumbai today stands at Rs 106.31 per litre against Rs 111.35 prior to the VAT cut, while the diesel price in Mumbai is Rs 94.27 per litre as opposed to Rs 97.28 per litre earlier.
Oil Marketing Companies (OMCs) including Hindustan Petroleum Corporation Ltd (HPCL), Bharat Petroleum Corporation Ltd (BPCL) and Indian Oil Corporation Ltd (IOCL) revise fuel prices on a daily basis according to foreign exchange rates and international benchmark prices. Retail petrol and diesel prices differ from state to state because of local taxes like VAT or freight charges.
Crude oil price
On Thursday morning, crude oil prices have increased marginally after lowering down in the last few sessions. According to Reuters, Brent crude futures were up 53 cents at $97.31 per barrel and WTI Crude was up 55 cents at $91.21 a barrel.
- Advertisement -
- Advertisement -
