Petrol, diesel prices remain steady across Indian metros
Prices of diesel and petrol were kept unchanged by oil marketing companies (OMCs) across major Indian cities on Wednesday, but the retail rates varied depending on the level of local taxes.
Fuel rates have largely remained steady since Diwali when the Centre and some states reduced duties on them. Accordingly, diesel and petrol prices in Delhi stood at Rs 86.67 per litre and Rs 95.41 per litre, respectively. In Mumbai, diesel was priced at Rs 94.14 and petrol Rs 109.98.
Prices also remained static in Kolkata at Rs 89.79 for diesel and Rs 104.67 for petrol, and in Chennai at Rs 91.43 for diesel and Rs 101.40 per litre for petrol.
"The reduction of excise duty and VAT on petrol and diesel will bring about a durable reduction in inflation by way of direct effects as well as indirect effects operating through fuel and transportation costs," said Reserve Bank of India Governor Shaktikanta Das on Wednesday in his policy statement speech post Monetary Policy Committee's December meet.
"Though crude oil prices have seen some correction in the recent period, a durable containment of price pressures would hinge on strong global supply responses to match the pick-up in demand as pandemic restrictions ease," he added.
The Economic Times 08-12-2021