New Delhi 23 November : .Prices of diesel and petrol remained stable for 19 consecutive days on Tuesday, according to the price revision process that is followed by oil marketers companies.On Tuesday, the pump price for petrol in Delhi fell to Rs.103.97 per litre from Rs 110.04 per litre on Monday.
Diesel prices in Delhi were unchanged at Rs.86.67 per litre.
Despite lower petrol prices, Delhi was still the most expensive NCR city for petrol.
This is because the state government didn’t revise VAT on petroleum products.
Mumbai was the capital of finance.Petrol continued to cost Rs.109.98 per litre, and diesel at Rs.94.14 per litre.
The prices remained stable in Kolkata on Tuesday, with petrol and diesel declining by Rs 5.82 to Rs 104.667 per litre.
The petrol price for Chennai was also at Rs 101.40 per Liter and the diesel price at Rs 91.43 Per Liter.
Prices remained largely the same across the nation on Tuesday, but retail prices varied according to the local tax.
Global crude oil prices have fallen to $80 barrel, after touching a record high of $85 per barrel for the last three years.
Crude prices have fallen due to the increase in US inventories and the release of strategic oil from few countries.
However, OPEC+’s December decision to only gradually increase production could cause crude prices to rise further.
Diesel rates rose on 30 of the 60 last days, bringing its retail price to Delhi at Rs 9.90 per Liter.
The petrol prices rose by Rs 8.85 per gallon on 28 days out of 56, bringing the pump price up to Rs 8.85/litre.
Before the duties cuts, petrol and diesel prices have risen by Rs 26 per litre since January 1.
Since the outbreak of Covid pandemic, the Centre cut the excise duties on November 3.
To mobilize more resources to support Covid relief, the government revised sharply petrol and diesel excise duties in March and May 2013.
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