In Mumbai, petrol and diesel are priced at Rs 106.31 per liter and diesel Rs 94.27 per liter respectively. Petrol and diesel were priced at Rs 102.63 and Rs 94.24 in Chennai and Rs 106.03 and Rs 92.76 in Kolkata on 27 September 2022.
During the month of May, Finance Minister Nirmala Sitharaman introduced lower tax levy on petrol and diesel by Rs 8 per liter and Rs 6 per liter. After the same, Maharashtra authorities have introduced VAT on petrol at Rs 5 per liter and on diesel at Rs 3 per liter.
Oil Flat In early Asian trading on Tuesday, indications that the OPEC+ alliance of producers sought to move away from a cost crash eased, along with a slight dip in US dollar, previous sell-off.
Brent crude futures rose by 0033 GMT by 26 cents, or 0.3%, to $84.32 a barrel, while US West Texas Intermediate crude futures rose 19 cents to $76.90 a barrel. Both benchmarks sank about $2 a barrel on Monday, in large part due to the strength of the US dollar.
Gasoline and diesel retail costs range from state to state depending on a number of components such as local taxes, value-added tax (VAT), or shipping costs. Gasoline retailers, notably Bharat Petroleum Company Ltd (BPCL), Indian Oil Company Ltd (IOCL) and Hindustan Petroleum Company Ltd (HPCL) review gas costs daily in line with global standard costs and external change fees. Any adjustments in petrol and diesel costs are carried out from 6 am day in and day out.
(with input from companies)