Petrol, diesel prices remain unchanged despite fall in crude oil rates

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The retail prices of petrol and diesel remained unchanged on Monday, continuing a 49-day freeze on the automobile fuel rates across the country.

According to the official website of Indian Oil Corporation, on Wednesday, petrol now costs Rs 69.59 per litre in Delhi, Rs 76.31 per litre in Mumbai. Similarly, diesel costs Rs 62.29 a litre in Delhi, Rs 66.21 a litre in Mumbai. In Kolkata, a litre of petrol will cost Rs 73.30 per litre whereas diesel is now priced at Rs 65.62 per litre. In Chennai, a litre of petrol will cost Rs 72.28 per litre whereas diesel is now priced at Rs 65.71 per litre.

Meanwhile, the Assam government on April 22 has increased the Value Added Tax (VAT) on diesel, petrol, and other motor spirits. Assam Government said in a Gazette notification, “Value Added Tax in Assam for diesel will be 23.66 paise in the rupee or Rs 17.45 per litre, whichever is higher. VAT for petrol and other motor spirits will be 32.66 paise in the rupee or Rs 22.63 per litre, whichever is higher, with effect from April 22.”

Crude oil prices on Thursday rose Rs 134 to Rs 1,317 per barrel as participants widened their positions in line with a positive trend overseas. On the Multi Commodity Exchange, crude oil for delivery in May traded higher by Rs 134, or 11.33 per cent, to Rs 1,317 per barrel in 12,259 lots. Globally, West Texas Intermediate was trading higher by 13.48 per cent at USD 17.09 per barrel and Brent Crude was up 7.63 per cent to USD 24.26 per barrel in New York.

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