INSUBCONTINENT EXCLUSIVE:
Fuel rates today: Petrol is selling at a price of Rs
78.18 per litre in Delhi today.Diesel prices hit a new high in four metros across the country on Wednesday
The artes of both petrol and diesel were marginally hiked today for a fourth straight day by Oil Marketing Companies (OMCs)
Diesel can be bought today at Rs
Diesel can be purchased at Rs
74.05 per litre in Mumbai, Rs
72.60 per litre in Kolkata and Rs
73.69 per litre in Chennai, according to daily price notification issued by state-owned oil firms.Petrol is selling at a price of Rs
78.18 per litre in Delhi today
In Mumbai, petrol is retailing at Rs
85.60 per litre in Mumbai
81.11 per litre in Kolkata and Rs
is mostly used in transportation of food and agricultural products and an increase in its price may lead to higher inflation
The surge in fuel prices is largely attributed to the recent rise in crude oil cost and the high excise duty levied on transportation fuel
in the country, reported news agency IANS.Mumbai has the highest VAT (Value Added Tax) of 39.12 per cent on petrol, while Telangana levies
petrol comes to 45-50 per cent and on diesel, it is 35-40 per cent."Indian petroleum demand has been resilient in FY18, and is reported to
rise in July 2018 as per Ministry of Petroleum and Natural Gas
Crude import rose by 12.4 per cent reflecting higher consumption of petroleum products with a growth of 7.4 per cent in July 2018 on a
Strong petroleum demand is supported by continued robust economic growth, rural demand, increased infrastructure spending and improved
In the light of the aforesaid factors, we expect crude prices to be resilient in the near future, resulting in higher domestic transport
fuel prices," said Abhishek Bansal, founder and chairman, ABans Group of companies.Petrol and diesel will not come under the purview of
Goods and Services Tax (GST) in the immediate future as neither the Central government nor any of the states is in favour on fears of heavy
revenue loss.Globally, oil markets were stable on Wednesday, buoyed by falling supplies from Iran ahead of US sanctions but held in check by
rising production outside the Organization of the Petroleum Exporting Countries
(With inputs from agencies)
