OIL & GAS

Petrol, diesel prices stable for seventh day in a row

Petrol and diesel rates were left unchanged for the seventh straight day on Saturday across the nation. Accordingly, the price of petrol and diesel was static at Rs 101.84 and Rs 89.87 per litre in Delhi, as per Indian Oil Corporation, the country’s largest fuel retailer.

In Mumbai, the petrol price was unchanged at Rs 107.83 per litre on Saturday. The cost of diesel was stable at Rs 97.45 a litre.

The prices of petrol and diesel are reviewed by oil marketing companies such as state-run Indian Oil (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) on a daily basis and any revision is implemented from 6 am in the morning.

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 in the country, followed by Madhya Pradesh and Maharashtra.

Source
CNBC
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