Crude Oil: Prices Likely To Rise In Global Market: Check Prices

Crude oil: Crude oil prices are likely to rise in the global market today. Brent crude is trading at $ 85.91 per barrel, up by $ 2.45 (2.49 per cent). WTI is being sold at $ 80.26 per barrel, costlier by $ 1.86 (2.37 per cent).

On every December 31, government oil companies have released new prices of petrol and diesel in the country. Changes in the prices of petrol and diesel are being seen in many states of the country, ahead of unchanged prices since 7 months.

Last change in the oil price was seen on 21^st May this year throughout the country. On 21^st May, Finance Minister Nirmala Sitharaman slashed excise duty on the petrol by Rs 8 per litre and Rs 6 litre on diesel.

Fuel Price In The Cities

Today, petrol is being sold at Rs 97.04 per liter in Gujarat after being costlier by Rs 0.58. At the same time, the price of diesel in the state has gone up to Rs 92.82 per litre. In Punjab, petrol has become costlier by Rs 0.25 and is being sold at Rs 96.60 per liter and diesel at Rs 86.96 per litre. In its Maharashtra too, petrol has increased by Rs 0.24 to reach Rs 106.21 per litre. Diesel here is Rs 92.73 per litre. At the same time, the prices of petrol and diesel have come down slightly in Kerala, Goa and Himachal Pradesh.

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

Kolkata:  Petrol rate today: Rs 102.03 per litre, Diesel rate: Rs 92.76 per litre

Bengaluru:  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

Mumbai:  Petrol rate: Rs 106.21 per litre, Diesel rate: Rs 92.73 per litre

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

Also Read: Fuel Price Remains Unchanged On 30 December For Consecutive 7 Months In A Row: Check Rates Of The Cities

VAT On Fuel Prices

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, the 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. On August 24, Meghalaya increased the VAT on the fuel price resulting petrol to cost Rs 96.83 per lite in Shillong, whereas, diesel is at Rs 84.72 per litre. The city has been the last to change the fuel rates.

-Bharat Express