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Fuel Prices: Domestic petrol and diesel prices vary across states due to value added tax (VAT).
Petrol, Diesel Prices Today: Petrol and diesel prices are unchanged across the four metros on Thursday, April 1. In Delhi, petrol rates were steady at Rs 90.56 per litre and diesel was untouched at Rs 80.87 per litre, according to Indian Oil Corporation. In Mumbai, the petrol and diesel prices stood at Rs 96.98 per litre and Rs 87.96 per litre, according to the state-run oil refiner. The fuel rates in Mumbai are currently the highest among all the four metros. (Also Read: How To Find Latest Petrol, Diesel Rates In Your City)
Here are the latest petrol and diesel prices across the four metros:
The domestic petrol and diesel rates vary across states due to the value-added tax or VAT. Oil marketing companies – Bharat Petroleum, Indian Oil Corporation and Hindustan Petroleum – align the prices of domestic fuel with global benchmarks by taking into account any alterations in the foreign exchange rates. Any changes in fuel rates are implemented with effect from 6 am each day.
Meanwhile, oil prices fell about 2 per cent on Wednesday as fresh lockdowns in Europe stoked fuel consumption fears and a pessimistic demand outlook from OPEC and its allies ahead of their meeting to decide on production curbs.
Brent crude for May, which expired on Wednesday, settled at $63.54 a barrel, down 60 cents, or 0.9 per cent. The more active contract for June ended $1.43, or 2.2 per cent, lower at $62.74. U.S. West Texas Intermediate (WTI) crude futures closed at $59.16 a barrel, losing $1.39, or 2.3 per cent.
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