Petrol and diesel prices remained unchanged across metros on Monday. In Delhi, the retail prices of diesel were at Rs 73.56 per litre and petrol at Rs 80.43 per litre. Diesel rates were higher in rest of NCR than in Delhi. In fact, Delhi has the cheapest diesel across the country as of August 3.
On July 30, diesel rates were cut by Rs 8.36 per litre in Delhi after the state government rolled back VAT hike. The Delhi government had on May 5 hiked VAT on petrol to 30 per cent from 27 per cent and on diesel from 16.75 per cent to 30 per cent.
The May 5 VAT hike translated into steepest ever price increase of Rs 7.10 per litre in diesel. Until July 29, diesel rates in the national capital surged to Rs 81.94 per litre. After the rollback of the VAT hike, diesel rates in Delhi reduced to Rs 73.56 per litre.
According to data by Indian Oil Corporation Ltd, in Gurugram, diesel is being sold at Rs 74.03 per litre. In Noida, diesel prices climbed to 73.87 per litre, and in Ghaziabad at Rs 73.71 per litre.
Meanwhile, state oil marketing companies have not changed petrol prices for more than a month. Since June 29, petrol prices, however, have remained static across all metros. Petrol prices remained unchanged at Rs 80.43 per litre in Delhi and Rs 87.19 per litre in Mumbai.
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Meanwhile, oil prices fell on Monday on oversupply concerns as OPEC and its allies wind back production cuts in August. A rise in worldwide COVID-19 cases points to a slower pick-up in fuel demand, Reuters reported.
Brent crude futures slid 26 cents, or 0.6 per cent, to $43.26 a barrel by 0253 GMT. Brent posted a fourth month of gains in July.Also read: Diesel to be cheaper by Rs 8 in Delhi as VAT reduced to 16.75%: Kejriwal
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