Business

18 April 2023: Great Relief For Crude Oil Users, Brent Crude Price Dipped To $84 Per Barrel; Check Petrol-Diesel Rates

18 April 2023: The new fiscal year 2024 has commenced from April 1. Along with this, several changes have been seen in the price of fuel rates including LPG cylinders. Despite the unchanged price of petrol-diesel rates, today, 18 April 2023 i.e. on Monday, the crude oil rates have dipped in the global market.

The price of Brent crude has increased to almost $84.

Petrol-Diesel rates

Chennai: Petrol rate: Rs 102.63 per litre, Diesel rate: Rs 94.24 per litre

Kolkata: Petrol rate today: Rs 106.03 per litre, Diesel rate: Rs 92.76 per litre

Mumbai: Petrol rate: Rs 106.15 per litre, Diesel rate: Rs 92.67 per litre

Delhi: Petrol rate: Rs 96.72 per litre, Diesel rate: Rs 89.62 per litre

Bangalore: Petrol rate: Rs 101.94 per litre, Diesel rate: Rs 87.89 per litre

Lucknow: Petrol rate: Rs 96.57 per litre, Diesel rate: Rs 89.76 per litre

Noida: Petrol rate: Rs 96.79 per litre, Diesel rate: Rs 89.96 per litre

Gurugram: Petrol rate: Rs 97.18 per litre, Diesel rate: Rs 90.05 per litre

Chandigarh: Petrol rate: Rs 96.20 per litre, Diesel rate: Rs 84.26 per litre

Also Read: Blinkit permanently Closes Some Dark Stores Amid delivery workers’ Protests

Crude Oil in Global Market    

Despite unchanged oil prices in the country, crude oil has seen several fluctuations in the global market as well. A slight softening is being seen in the price of crude oil in the international market. After the decline, WTI crude has reached nearly $79 per barrel and Brent crude is near $84 per barrel.

Value Added Tax

Any changes in petrol and diesel costs are implemented from 6 am every day. The prices of petrol and diesel change state by state, depending upon various criteria such as Value Added Tax (VAT), freight charges, local taxes, etc. Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise their prices daily in line with international benchmark prices and forex rates.

Since the central government reduced excise duty, some states have reduced VAT prices on fuels.

Oil Minister Hardeep Singh Puri recently asked OMCs to cut the retail prices of petrol and diesel if the crude oil prices in the international market come down and also if OMCs under recovery come down. OMCs incurred a loss of Rs 21,200 crore on account of selling petrol and diesel below the cost price.

Alina Khan

Recent Posts

India Rejects Pakistan’s Allegations; Urges It To Address Internal Issues

India rejected Pakistan’s claims, urging Islamabad to address its internal issues instead of shifting blame.

2 hours ago

Holi 2025: Widows In Vrindavan Break Tradition To Celebrate The Festival Of Colors With Joy

Widows in Vrindavan celebrated Holi 2025 with joy, breaking long-standing traditions in Lord Krishna’s childhood…

16 hours ago

Holi 2025: Know The Auspicious Timings And Legends Behind The Festival

Holi, known as the 'Festival of Colors', is one of the most important Hindu festivals.…

16 hours ago

Supreme Court And Various High Courts Express Concerns Over Misuse Of Domestic Violence Laws

Supreme Court and several high courts in India have voiced concerns regarding the growing misuse…

21 hours ago

Court To Hear Defamation Case Of Satyendar Jain Against Bansuri Swaraj On March 22

The court will hear defamation petition of AAP leader Satyendar Jain against BJP MP Bansuri…

21 hours ago

Delhi High Court Disposes Plea To Rename India As Bharat

The Delhi High Court rejected a plea to rename India as Bharat, directing the petitioner…

21 hours ago