Petrol and diesel prices remained unchanged on Friday, with the former retailing at Rs 80.43/litre and latter at Rs 73.56/litre in Delhi. In Mumbai, petrol costs 87.19/litre and diesel Rs 80.11/litre.
Diesel prices have revised many times in the past month but the retail price of petrol has been steady for more than a month now.
The latest big price revision in diesel was seen in Delhi on July 31 when Chief Minister Arvind Kejriwal cut Value Added Tax or VAT by Rs 8/litre in the state, reducing VAT to 16.75 per cent from 30 per cent earlier. This reduced the diesel price in Delhi to the lowest among all metro cities of India.
Petrol and diesel prices in four metro cities (price in per litre)
Meanwhile, crude oil prices hovered below five-month highs on Thursday, says Reuters data. Brent crude LCOc1 settled down 8 cents at $45.09 a barrel, while U.S. crude CLc1 fell 24 cents to $41.95 after a four-day streak of gains.
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