INSUBCONTINENT EXCLUSIVE:
Diesel can be bought today at Rs
68.86 per litre in Delhi.Oil Marketing Companies (OMCs) hiked prices of diesel in four metro cities on Friday whereas petrol prices were
Fuel rates were hiked on Thursday
Petrol can be purchased at a price of Rs
77.20 per litre in Delhi, Rs
84.63 per litre in Mumbai, Rs
80.14 per litre in Kolkata and Rs
80.19 per litre in Chennai
Petrol prices in Delhi are the cheapest due to lower sales tax or VAT (Value Added Tax)
Delhi charges a VAT of 27 per cent on petrol
Mumbai has the highest VAT of 39.12 per cent on petrol.Diesel can be bought today at Rs
73.10 per litre in Mumbai, Rs
71.70 per litre in Kolkata and Rs
72.74 per litre in Chennai
Diesel prices in Delhi are the cheapest due to lower sales tax or VAT
Delhi charges a VAT of 17.24 per cent on diesel.Globally, oil prices fell on Friday, with US crude heading for a seventh weekly decline amid
increasing concerns about slowing global economic growth that could hit demand for petroleum products, reported news agency Reuters
Brent crude oil futures were down 5 cents at $71.38 a barrel by 0050 GMT
US West Texas Intermediate (WTI) crude futures dropped 4 cents to $65.42 a barrel.Brent is heading for a 2 per cent decline this week, a
third consecutive weekly drop
WTI is on track for a seventh week of losses, with a fall of more than 3 per cent.Data on Wednesday showing a large build in US inventories
fostered fears about the outlook for fuel demand, while crude was also pressured by broader selling of industrial commodities and by the
Turkish financial crisis.China and the United States have implemented several rounds of trade tariffs and threatened further duties on
