Global Oil Prices Ease, Petrol and Diesel Rates Remain Unchanged in India (X)
New Delhi: Despite continuous fluctuations in the prices of crude oil in the international market, there has been no change in the prices of petrol and diesel across the country. Even on July 26, oil marketing companies (OMCs) kept fuel prices stable. Although due to increased tension between America and Iran, there was a sharp rise in the prices of crude oil in the global market, later the prices softened due to the news of diplomatic talks.
Due to increasing tension in the Middle East and fear of stoppage of oil supply from the Strait of Hormuz, the price of Brent crude went up to 100.69 dollars per barrel. But later, when there was hope of talks between America and Iran, the fear of the market reduced. After this, Brent crude fell to 96.78 dollars per barrel. At the same time, American WTI crude also slipped to 89.31 dollars per barrel.
| City | Petrol | Diesel |
|---|---|---|
| Delhi | Rs 102.12 per Litre | Rs 95.20 per Litre |
| Mumbai | Rs 111.21 per Litre | Rs 97.83 per Litre |
| Kolkata | Rs 113.51 per Litre | Rs 99.82 per Litre |
| Benguluru | Rs 111.68 per Litre | Rs 99.56 per Litre |
| Chennai | Rs 107.76 per Litre | Rs 99.55 per Litre |
| Hyderabad | Rs 117.07 per Litre | Rs 105.22 per Litre |
Petrol and diesel prices in the country depend on many factors. The biggest impact is on the prices of crude oil in the international market. Apart from this, the position of rupee against dollar also plays an important role. If the rupee weakens, the cost of importing crude oil increases, which may impact domestic fuel prices.
Petrol and diesel prices do not vary across the country as each state imposes different VAT and other local taxes. Apart from this, transportation costs, dealer commission and local expenses also create differences in prices.
At present, oil companies have not indicated any change in prices. But if there is a long rise or fall in the prices of crude oil in the international market or the government changes the taxes, then there may be a revision in the prices of petrol and diesel in the coming days. At present, consumers are relieved that fuel prices remain stable across the country.
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