Today, the petrol price in Delhi is Rs 96.72 per litre compared to Rs 105.41 per litre earlier to excise duty cut, while the diesel price in Delhi is Rs 89.62 per litre. The petrol price in Mumbai stands at Rs 106.31 per litre after a VAT cut and the diesel costs Rs 94.27 per litre. Recently, the Maharashtra state government announced a VAT cut on petrol and diesel by Rs 5 per litre and Rs 3 per litre, respectively.
Petrol, diesel prices in Delhi, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad
Retail petrol and diesel prices vary from state to state due to local taxes, such as VAT or freight charges. Indian Oil Corporation Ltd, Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd set the fuel prices daily according to foreign exchange rates and international benchmark prices.
Crude oil price
On July 21, crude oil went down by $100 a barrel as investors estimated the signs of expanding stockpiles and increasing demand for US gasoline. According to Reuters, a US government report showed that stockpiles of the fuel rose more than expected last week, while a four-week rolling average shows high prices crimped consumption to only just above the same time two years ago, and below every other year since 2000.