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Petrol, diesel prices unchanged for 12th day in a row

Mini

Currently, the cost of one litre of petrol in Delhi stands at Rs 103.97 per litre and of diesel at Rs 86.67 per litre. In Mumbai, the petrol and diesel prices stand at Rs 109.98 per litre and Rs 94.14 per litre, respectively.

Petrol, diesel prices unchanged for 12th day in a row
Fuel prices were kept unchanged for the 12th consecutive day on Tuesday across various cities in the country including the national capital Delhi, Mumbai, Kolkata, etc. Earlier on November 4, the government had slashed excise duty on petrol and diesel to bring rates slightly down from the record-high levels.
Currently, the cost of one litre of petrol in Delhi stands at Rs 103.97 per litre and of diesel at Rs 86.67 per litre. In Mumbai, the petrol and diesel prices stand at Rs 109.98 per litre and Rs 94.14 per litre, respectively.
After the excise rates were cut, at least 23 states and Union Territories also announced a cut in VAT rates on petrol and diesel, giving a big relief to consumers.
Oil companies revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.
The prices of petrol and diesel are reviewed by oil marketing companies such as state-run Indian Oil on a daily basis and any revision is implemented from 6 am.
Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Rajasthan levies the highest value-added tax (VAT) on petrol.
Globally, oil prices settled mixed on Monday as investors wondered whether crude supplies will increase and whether demand will be pressured by the recent surge in energy costs, the strong dollar and rising COVID-19 cases, according to news agency Reuters.
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