INSUBCONTINENT EXCLUSIVE:
This is the longest period when the prices have remained unchanged, ever since the daily revision of prices began in June 2017.Earlier there
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
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 nudged up following two
sessions of losses after industry data showed an unexpected drop in United States crude and fuel stocks, offsetting concerns of a possible
rise in supplies from Iran
Brent crude futures rose 23 cents, or 0.3 per cent, to $91.01 a barrel, while United States West Texas Intermediate crude was at $89.47 a
barrel, up 11 cents, or 0.1 per cent.India is 85 per cent dependent on imports to meet its oil needs and, the domestic petrol and diesel
prices are linked to international rates
But for the last over three months, despite a spurt in international oil prices, petrol and diesel rates have not been changed ahead of
elections in crucial states like Uttar Pradesh and Punjab.
