Petrol, diesel prices remain static on Sunday
State-run oil marketing companies kept the retail petrol and diesel prices static across major cities of the country on Sunday (May 19). In national capital Delhi, petrol is being sold for Rs 71.03 per litre while diesel costs Rs 65.96 a litre, no change compared with yesterday’s price. It should be noted that petrol and diesel prices in Delhi are the cheapest among all metros owing to lower taxes.
People in Noida have to shell out Rs 70.74 for a litre of petrol (13 paise decrease) while diesel retailed at Rs 65.08 per litre, 13 paise lower than Saturday’s price. In Mumbai, petrol was retailing at Rs 76.64 per litre while diesel costs Rs 69.11 per litre. Similarly, in Chennai, the retail prices of petrol and diesel are Rs 73.73 a litre and Rs 69.73 (1 paise decrease) per litre respectively.
In Kolkata, petrol is selling at Rs 73.11 per litre and diesel at Rs 67.71 per litre. Worth mentioning here is that petrol and diesel rates in India are revised on a daily basis at 06:00 a.m. every day.
State-run Indian Oil, Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) account for more than 90 per cent of refuelling stations in India. The fuel price is dependent on the global crude oil prices, rupee to US dollar exchange rate, global cues, fuel demand, etc. Price of fuel includes excise duty, value-added tax (VAT) and dealer commission. It may be noted that VAT varies from state to state. However, when international crude oil prices gain, prices in India move higher.
(Source: Times Now 20-05-19)