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

Delhi Pollution: SC Orders Action On GRAP Violations, Directs Relief For Affected Workers

The SC on Monday instructed CAQM to act against officers and entities failing to enforce…

5 hours ago

IPL 2025 Auction: 13-Year-Old Vaibhav Suryavanshi Becomes Youngest Player Signed

Rajasthan Royals (RR) secured Vaibhav Suryavanshi for Rs 1.10 crore at the Abadi Al Johar…

6 hours ago

Islamabad Tense As Security Forces Brace For Clash With PTI Supporters Demanding Imran Khan’s Release

Pakistan Tehreek-e-Insaf’s (PTI) ‘Final Call’ protest rally, led by Bushra Bibi, has reached outskirts of…

7 hours ago

IPL 2025 Auction: Gujarat Titans Sign Sherfane Rutherford For Rs 2.6 Cr, KKR Add Manish Pandey For Rs 75 Lakh

The Gujarat Titans (GT) secured West Indies batter Sherfane Rutherford for Rs 2.6 crore during…

7 hours ago

IPL 2025 Auction: Bhuvneshwar Kumar Headlines Day 2 With Rs 10.75 Crore Move To RCB

Bhuvneshwar Kumar stole the spotlight on Day 2 of the IPL 2025 Auction. Royal Challengers…

9 hours ago

Self-Help Groups To Provide Ganga Water To Pilgrims At Maha Kumbh 2025

Maha Kumbh 2025 will combine spirituality and women’s empowerment, with self-help groups providing bottled Ganga…

10 hours ago