Petrol And Diesel Price Update [29 August, 2023]: After the daily rate review on August 29, Tuesday, the oil marketing organisations Indian Oil, Bharat Petroleum, and Hindustan Petroleum basically kept the petrol and diesel prices at the same level. Cities like Delhi, Mumbai, Kolkata, and Chennai all have stable prices. States like Bihar, Rajasthan, West Bengal, Himachal Pradesh, Kerala, Goa, Gujarat, and Haryana experienced small ups and downs.
In Delhi, the cost of petrol is Rs 96.72 per litre as of August 29, while the cost of diesel is Rs 89.62 per litre.
Diesel costs Rs 94.27 per litre in Mumbai, while petrol is sold at a higher price of Rs 106.31 per litre.
In Kolkata, the price of petrol is Rs 106.31 a litre, while the cost of diesel is Rs 92.76 per litre. Diesel can be bought in Chennai for Rs 94.24 per litre while petrol prices Rs 102.63 per litre.
In Bihar, diesel prices have decreased by 44 paise and petrol prices have decreased by 47 paise as part of a minor revision.
Diesel and petrol prices in Rajasthan have both decreased by 43 and 48 paise, respectively. Additionally, West Bengal, Himachal Pradesh, and Kerala all underwent a downward revision.
In the meantime, Goa is now paying 59 cents more for petrol and 57 cents more for diesel. In Gujarat, the cost of fuel and diesel has increased by 49 paise. The price of fuel and diesel has increased by 21 paise in Haryana as well.
rate change
In May 2022, the last nationwide rate change was made. On May 21, 2022, the excise duty on petrol was decreased by Rs 8 per litre and the excise duty on diesel by Rs 6 per litre by Union Finance Minister Nirmala Sitharaman.
The Indian government has raised concerns about the volatility of the world oil prices with major oil producers and organisations, according to remarks made by the energy minister Hardeep Singh Puri earlier this month. India is the third-largest oil importer and consumer in the world, importing more than 80% of its oil requirements from foreign nations.
Global crude oil
Due to concerns that more potential US interest rate increases could further reduce demand, oil prices remained unchanged on Tuesday, according to Reuters. Jerome Powell, the chair of the Fed Reserve, stated on Friday that the US central bank may need to raise rates further to curb persistent inflation.
Tuesday morning at 00:32 GMT, Brent crude LCOc1 was down 2 cents at $84.40 a barrel, while US West Texas Intermediate crude down 3 cents to $80.07.
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