The prices of petrol and diesel were kept unchanged for the eighteenth straight day on Wednesday. Finance minister Nirmala Sitharaman announced a reduction in excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per litre on May 21. Since then, the fuel prices have remained steady in the country.
After the sharp cut in the excise duty, petrol price came down to Rs 96.72 a litre in Delhi. In Mumbai, petrol was retailing at Rs 111.35 on June 8. A litre of petrol would cost Rs 102.63 in Chennai. In Kolkata, petrol was available at Rs 106.03 per litre.
Diesel price also reduced sharply across the country as Centre had cut excise duty. The retail price of diesel dropped to Rs 89.62 a litre. In Mumbai, a litre of diesel would cost Rs 97.28. In Chennai, diesel was priced at Rs 94.24 per litre. A litre of diesel was available at Rs 92.76 in Kolkata.
Public sector oil marketing companies including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily. Fuel price depends on international crude oil prices, rupee-dollar exchange rate. Retail prices of petrol and diesel vary from one state to another on account of local taxes like Value Added Tax or VAT and freight charges.
Petrol, Diesel Prices on Wednesday, June 8, in Delhi, Chennai and Other Major Cities in India:
Delhi
Petrol: Rs 96.72 per litre
Diesel: Rs 89.62 per litre
Mumbai
Petrol: Rs 111.35 per litre
Diesel: Rs 97.28 per litre
Kolkata
Petrol: Rs 106.03 per litre
Diesel: Rs 92.76 per litre
Chennai
Petrol: Rs 102.63 per litre
Diesel: Rs 94.24 per litre
Bhopal
Petrol: Rs 108.65 per litre
Diesel: Rs 93.90 per litre
Hyderabad
Petrol: Rs 109.66 per litre
Diesel: Rs 97.82 per litre
Bengaluru
Petrol: Rs 101.94 per litre
Diesel: Rs 87.89 per litre
Guwahati
Petrol: Rs 96.01 per litre
Diesel: Rs 83.94 per litre
Lucknow
Petrol: Rs 96.57 per litre
Diesel: Rs 89.76 per litre
Gandhinagar
Petrol: Rs 96.63 per litre
Diesel: Rs 92.38 per litre
Thiruvananthapuram
Petrol: Rs 107.71 per litre
Diesel: Rs 96.52 per litre.
Crude Oil Price Today
Oil prices edged up on Wednesday ahead of data on US oil inventories. Brent crude futures for August rose 22 cents, or 0.2 per cent, to $120.79 a barrel by 0012 GMT after closing at the highest since May 31 on Tuesday. US West Texas Intermediate crude for July was at $119.65 a barrel, up 24 cents, or 0.2 per cent, according to Reuters. Oil prices could soon hit $150 a barrel and go higher this year, with demand destruction likely by the end of the year, analysts said.
Last week, the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, on Thursday agreed to boost output by 648,000 barrels per day (bpd) a month in July and August rather than 432,000 bpd as previously agreed.
(With inputs from agencies)
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