Fuel Prices: Domestic petrol and diesel prices vary across states due to value added tax (VAT).Petrol, Diesel Prices Today: Petrol prices touched fresh all-time highs in the national capital on TuesdayJanuary 26.In the national capital,the price of petrol was hiked by 35 paise toRs 86.05 per litrefrom Rs 85.70 and diesel was increased by a similar amount to Rs 76.23 from Rs 75.88per litre, according to Indian Oil Corporation, the country's largest fuel retailer.
Meanwhile, in Mumbai, the revised petrol and diesel prices were Rs 92.62 per litre and Rs 83.03 per litre respectively.
The current priceof petrolis the highest everin the national capital, anddiesel is at a record high in Mumbai.(Also Read:How To Check Latest Petrol And Diesel Rates In Your City)CityPetrolDieselDelhi86.0576.23Mumbai92.6283.03Chennai88.6081.47Kolkata87.4579.83Source: Indian OilPetrol and diesel rates haverecordedan upswing since January 6, 2021 after staying unchangedfor almost a month.
Fuel rateshave increased amid arally in global crude oil prices, with coronavirus vaccination drives beginning across the world.Oil marketing companies - Indian Oil Corporation,Bharat Petroleum, andHindustan Petroleum align the prices of domestic fuelwith global benchmarks, by taking into account any changesin the foreign exchange rates.
Any alterationsin fuel prices are implementedwith effect from 6 am every day.
The fuel ratesvary from state to state acrossthe country due to the value-added tax or VAT.Meanwhile, oil prices rose about 1 per cent on on Tuesday, January 27 as optimism around United States stimulus plans and some supply concerns boosted futures, but demand worries prompted by coronavirus lockdowns limited gains.Brent crude futures rose 47 cents, or 0.9 per cent, to settle at $55.88 a barrel and United States West Texas Intermediate crude ended 50 cents, or 1 per cent, higher at $52.77 a barrel.