With the fall in the prices of crude oil at the international level, there has been no change in the prices of petrol and diesel at the national level today (Wednesday) for the 13th straight day in a row.
According to the latest update by petroleum marketing company Indian Oil Corporation (IOCL), the price of petrol in Delhi is Rs 103.97 while the price of diesel is stable at Rs 86.67 per liter.
At the same time, on November 17 in Mumbai, petrol remains at Rs 109.98 and diesel at Rs 94.14 per liter. Apart from this, the price of petrol in Kolkata is Rs 104.67 while the rate of diesel is being sold at Rs 89.79 per liter. At the same time, in Chennai too, petrol remains at Rs 101.40 and diesel at Rs 91.43 a liter.
Meanwhile, the total incidence of taxes on petrol has come down to 50 per cent and that on diesel to 40 per cent following a reduction in excise duty by the central government, and by a slightly higher proportion in states that have also cut local sales tax or VAT on the fuel.
State-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum revise the fuel rates on a daily basis, by taking into account the crude oil prices in the international markets, and the rupee-dollar exchange rates. Any changes in petrol and diesel prices are implemented with effect from 6 am every day.
Globally, oil prices slipped amid concerns over rising coronavirus cases in Europe. Brent futures fell 37 cents, or 0.45 per cent, to $82.01 a barrel, while U.S. West Texas Intermediate (WTI) crude slid 44 cents, or 0.55 per cent, to $79.30 a barrel.
(For more updates stay tuned with DNP India)