Petrol in Delhi is less expensive. The state government lowers the tax rate by ₹8 per litre

The Delhi government decreased the value-added tax (VAT) on petrol from 30% to 19.40% on Wednesday. Petrol prices in the national capital will be slashed by ₹8 per litre as a result of the drop. The increased prices will go into effect at 12 a.m. today.

The Delhi government decreased the value-added tax (VAT) on petrol from 30% to 19.40% on Wednesday.
Petrol prices in the national capital will be slashed by ₹8 per litre as a result of the drop. The increased prices will go into effect at 12 a.m. today.

Meanwhile, fuel costs have remained steady for the past 27 days. On November 4, the government lowered excise duty on gasoline and diesel, bringing rates back down from record-high levels.

According to the Indian Oil Corporation, petrol costs 103.97 rupees in Delhi, while diesel costs 86.67 rupees. Petrol is sold for 109.98 a litre in Mumbai, while diesel is supplied for 94.14 per litre.

Mumbai has the highest fuel prices among metro cities. Because of the value-added tax, or VAT, the rates differ by state.
State-run oil refineries such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum adjust fuel prices on a daily basis, taking into account international crude oil prices and rupee-dollar exchange rates.
As major producers prepared to negotiate how to respond to the possibility of a cut to fuel demand from the Omicron type, oil prices gained more than 2% globally, recouping some of the sharp losses from the previous session.

After a 3.9 percent drop on Tuesday, Brent crude futures rose ₹1.90, or 2.7 percent, to $71.13 a barrel. After a 5.4 percent plunge on Tuesday, US West Texas Intermediate (WTI) crude futures gained ₹1.71, or 2.6 percent, to ₹67.89 a barrel.