INSUBCONTINENT EXCLUSIVE:
This is the longest period when the prices have remained unchanged, ever since the daily revision of prices began in June 2017.Before
The current status quo in petrol and diesel prices has also continued as assembly elections in several high profile states like Uttar
In Mumbai, petrol is retailed at Rs 109.98 per litre, while diesel is being sold at Rs 94.14 per litre
Among the metro cities, fuel rates are still the highest in Mumbai
Fuel prices vary across the states due to value-added tax or VAT
more from October 1 after the Centre levied additional excise duty on fuel sold without blending it with ethanol or biodiesel in Union
Budget 2021-22.Also, Oil Minister Hardeep Singh Puri said India has achieved 9 per cent ethanol blending in petrol and is confident of
meeting the 20 per cent target by 2025
Currently, 10 per cent ethanol, extracted from sugarcane or surplus foodgrain, is required to be blended or mixed in petrol (meaning 10 per
cent of ethanol mixed with 90 per cent of petrol) with a view to cutting oil import dependence and provide farmers with an additional source
of income.State-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum revise the fuel rates on a daily basis, by
taking into account the crude oil prices in the international markets, and the rupee-dollar exchange rates
Any changes in petrol and diesel prices are implemented with effect from 6 am every day.Globally, oil prices climbed, extending sharp gains
in the previous session sparked by persistent supply concerns
Brent crude was up 16 cents, or 0.2 per cent, to $91.27 a barrel, after rising $1.16 on Thursday
United States West Texas Intermediate crude rose 28 cents, or 0.3 per cent, to $90.55 a barrel, having gained $2.01 cents the previous day
to settle above $90 for the first time since October 6, 2014.
