OIL & GAS

Petrol, diesel prices remain unchanged for second day in a row

In a major relief to the common man, petrol and diesel prices remained unchanged for a second straight day on Monday.

Accordingly, petrol prices in Delhi remained unchanged at Rs 90.58 a litre, while diesel prices maintained its price line of Rs 80.97 a litre in the national capital, according to Indian Oil Corporation, the country’s largest fuel retailer.

In Mumbai, petrol price remained unchanged at Rs 97 per litre on Monday. The cost of diesel also was the same at Rs 88.06 a litre.

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 in the morning.

The fuel prices vary from state to state in the country due to the value-added tax or VAT.

Meanwhile, the West Bengal government on Sunday announced a reduction of tax by Re 1 per litre on petrol and diesel effective from midnight of February 22.

Source
CNBC
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