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Petrol and Diesel Rate Today: Domestic petrol and diesel prices vary across states due to VAT

Petrol, Diesel Price Today: Petrol and diesel prices have touched new highs across the metros on Friday, data from the country’s largest fuel retailer Indian Oil showed. In Delhi, the petrol prices have been increased by 29 paise from Rs 95.56 per litre to Rs 95.85 per litre and diesel prices have been hiked by an equal amount from Rs 86.47 per litre to Rs 86.76 per litre. In Mumbai, the revised prices of petrol and diesel stood at Rs 102.04 per litre and Rs 94.15 per litre. (Also Read: How To Check Latest Petrol And Diesel Rates In Your City)

Here are the latest petrol and diesel prices across the four metro cities:

Fuel prices differ from state to state depending on the incidence of local taxes such as value added tax or VAT and freight charges.

The state-run oil marketing companies – Indian Oil Corporation (IOC), Bharat Petroleum and Hindustan Petroleum align the rates of domestic fuel with that of global crude oil prices by taking into account any changes in foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.

In international market, oil prices slid on Thursday as inventory data in the United States, the world’s top oil consumer, showed a surge in gasoline stocks that indicates weaker-than-expected fuel demand at the start of summer, the country’s peak season for motoring.

Brent crude oil futures were down 34 cents, or 0.5 per cent, at $71.88 a barrel and U.S oil futures declined by 36 cents, or 0.5 per cent, at $69.60 a barrel.

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