The price of gasoline and diesel remains stable on July 18, the latest price notification issued by fuel retailers shows. The price of fuel remains unchanged for more than a month except for Maharashtra where the Chairperson of the Minister (CM) Eknath Shinde on Friday announced the cutting of Value Added Tax (VAT) RS 5 per liter for gasoline and RS 3 per liter for diesel. For the whole country, prices remain stable for almost two months. The last price reduction occurred after Minister of Finance Nirmala Sitharaman announced the withdrawal of excise excise on gasoline amounting to RS 8 per liter, and RS 6 per liter on Diesel on May 21.
The price of gasoline in Delhi stands in RS 96.72 per liter, while the diesel cost of RS 89.62 per liter. In Mumbai, one liter of gasoline is now worth RS 106.31 against RS 111.35 previously while Diesel was sold in RS 94.27, down from RS 97.28 per previous liter. The Public Sector OMC including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise fuel prices every day in accordance with international benchmark prices and foreign exchange rates. Every change in the price of gasoline and diesel is applied starting at 6 am every day. The price of gasoline and retail diesel is different from one country to another because of local taxes such as VAT or shipping costs.
Petrol, diesel prices in Chennai, Kolkata, Bengaluru, Lucknow, Noida, Gurugram
Delhi: Petrol price: Rs 96.72 per litre, Diesel price: Rs 89.62 per litre
Chennai: Petrol price: Rs 102.63 per litre, Diesel price: Rs 94.24 per litre
Kolkata: Petrol price: Rs 106.03 per litre, Diesel price: Rs 92.76 per litre
Bengaluru: Petrol: Rs 101.94 per litre, Diesel: Rs 87.89 per litre
Lucknow: Petrol: Rs 96.57 per litre, Diesel: Rs 89.76 per litre
Noida: Petrol: Rs 96.79 per litre, Diesel: Rs 89.96 per litre
Gurugram: Petrol: Rs 97.18 per litre, Diesel: Rs 90.05 per litre
Chandigarh: Petrol: Rs 96.20 per litre, Diesel: Rs 84.26 per litre
Crude Oil price
The price of crude oil fell $ 1 in early trading in Asia on Monday, cutting profits from Friday, due to attention again to the increasing COVID-19 cases in China and the prospect of locking reducing fuel demand in the world’s leading oil import countries. As West Texas Intermediate (WTI) oil oil for August delivery dropped $ 1.54, or 1.6%, to $ 96.05 per barrel at 0055 GMT, after climbing 1.9% on Friday. Brent Crude Futures for the Settlement of September dropped $ 1.47, or 1.5%, to $ 99.69 per barrel, peeling an increase of 2.1% from Friday, according to Reuters.