The Hemant Soren government in Jharkhand on Wednesday announced a reduction of Rs 25 per litre petrol to motorcycles and scooter riders. The new rate will come into effect from January 26, 2022.
"The price of petrol and diesel is increasing continuously, due to which the poor and middle-class people are the most affected. Therefore the government will give a relief of Rs 25 per liter on petrol for two-wheelers from the state level, its benefit will start from January 26, 2022," Hemant Soren tweeted.
However, the fuel prices were unchanged today across various cities in the country including the national capital Delhi, Mumbai, Kolkata, and Chennai. Accordingly, the price of petrol in Delhi stands at Rs 95.41 per litre. Recently, the Delhi government cut the VAT on petrol from 30 percent to 19.4 per cent, reducing the petrol price by Rs 8 in the national capital.
The cost of one litre of diesel in Delhi stands unchanged at Rs 86.67 per litre on Monday. In Mumbai, the petrol and diesel prices stand at Rs 109.98 per litre and Rs 94.14 per litre, respectively. In Kolkata, petrol and diesel cost Rs 104.67 per litre and Rs 89.79 per litre. In Chennai, they cost Rs 101.40 per litre and Rs 91.43 per litre respectively.
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.
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US oil rose for a sixth consecutive session on Wednesday while Brent gained more ground with a broad-based rally in global markets supporting prices, according to news agency Reuters.
(Edited by : Jomy Jos Pullokaran)
First Published: IST