Petrol And Diesel Price Update: The price of crude oil once again raised in the international market. Today , on August 08, both WTI crude oil and Brent crude oil are trading with an increase, oil companies have released new rates of petrol and diesel.
On Tuesday, August 8, petrol and diesel prices is stable in New Delhi, Kolkata, Mumbai, and Chennai. Petrol and fuel prices have remained stable in past fewmonths. Individual cities, on the other hand, have daily price variations. Petrol and diesel costs vary by state, based on factors such as Value Added Tax (VAT), freight charges, local taxes, and so on.
The last nationwide cut in fuel prices was on May 21, last year, when Finance Minister Nirmala Sitharaman reduced excise duty on petrol by Rs 8 per litre and diesel by Rs 6 per litre. Since the national government dropped excise duty in May 2022, some states have reduced VAT costs on gasoline, while others have increased them.
In Delhi, petrol is currently priced at Rs 96.72 a litre, while diesel is priced at Rs 89.62 per litre. In Mumbai, petrol costs Rs 106.31 per litre and diesel costs Rs 94.27. While petrol costs Rs 106.03 per litre in Kolkata, diesel costs Rs 92.76. In Chennai, though, petrol costs Rs 102.63 and diesel costs Rs 94.24 a litre.
In India, petrol and diesel rates are set by oil marketing companies (OMCs) such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum. This is done on a daily basis, and rates are set in accordance with the global price of crude oil.
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