Fuel Prices: Domestic petrol and diesel prices vary across states due to value added tax (VAT).
Petrol, Diesel Prices Today: Petrol and diesel prices remained steady across all four metros for the 23rd consecutive day, on Monday March 22. Indian Oil Corporation had last increased fuel prices on February 27 to an all-time high of Rs 91.17 in the national capital. Since then, the fuel rates have been unchanged across the four metro cities. Currently, the highest fuel prices are in Mumbai where petrol is at Rs 97.57 per litre and diesel at Rs 88.60 per litre, according to the state-run oil refiner (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. The oil marketing companies – Bharat Petroleum, Indian Oil Corporation, as well as Hindustan Petroleum align the prices of domestic fuel with the global benchmarks, by taking into account any changes in the foreign exchange rates. Any changes in fuel rates are implemented with effect from 6 am each day.
Meanwhile, oil prices resumed their decline on Monday, falling around 1 per cent as worries about a drop in demand for fuel products in the wake of yet more European lockdowns dominated trading.
Brent crude was down 60 cents, or 0.9 per cent, at $63.93 a barrel by 0136 GMT. U.S. oil was off by 68 cents, or 1.1 per cent, at $60.74 a barrel. Both contracts fell by more than 6 per cent last week.
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