State-run oil marketing companies have kept the prices of petrol and diesel unchanged across the country on Tuesday, December 21, 2021. Notably, it has been more than a month and a half now since petrol and diesel prices have seen any changes.
The last revision in the prices of petrol and diesel was seen at the beginning of November when the central government slashed VAT on fuels, providing relief to consumers from all-time high fuel rates.
Meanwhile, Delhi was the latest city to revise petrol prices alone on December 1 when the Kejriwal government reduced the Value-Added Tax (VAT) on petrol from 30 percent to 19.40 percent, making petrol cheaper by Rs 8 in the national capital.
Currently, petrol is retailing at Rs 95.41 in Delhi whereas diesel prices have remained unchanged at Rs 86.67 per litre in the national capital.
In India’s financial hub, Mumbai, a litre of petrol costs Rs 109.98, while diesel is being sold at Rs 94.14 per litre. Among the four metro cities, fuel rates are still the highest in Mumbai.
Similarly, in Tamil Nadu’s capital, Chennai, the prices of petrol and diesel remained unaltered at Rs 101.40 and Rs 91.43 per litre, respectively.
On the other hand, petrol is available at Rs 104.67 per litre in Kolkata and Rs 89.79 per litre and people have to shell out Rs 89.79 for one litre of diesel.
Petrol pumps in Jharkhand to stage strike today
Over 1,400 petrol pumps in Jharkhand will remain closed on Tuesday as petroleum dealers will stage a day-long strike to demand a reduction in VAT on diesel, further stopping the sale of adulterated fuel in the name of biodiesel.
Dhanbad-based Ashok Singh, the state president of Jharkhand Petroleum Dealers’ Association, said, “The present rate of VAT of 22% on diesel is too high. We have demanded that the state government bring it down to 16%.”
Crude oil prices edged higher in international market
Globally, oil prices edged higher on Tuesday, December 21, 2021. It may be noted that the Omicron variant of Coronavirus remains a concern for investors globally, prompting countries to consider more restrictions, further denting fuel demand.
On Tuesday, Brent crude futures increased by nine cents, or 0.1 per cent, to $71.61 a barrel, while U.S. West Texas Intermediate (WTI) crude futures rose by 23 cents, or 0.3 per cent, to $68.84 a barrel.
Petrol and diesel prices in major Indian cities:
|CITY||PETROL (PER LITRE)||DIESEL (PER LITRE)|
|NEW DELHI||Rs 95.41||Rs 86.67|
|MUMBAI||Rs 109.98||Rs 94.14|
|CHENNAI||Rs 101.40||Rs 91.43|
|KOLKATA||Rs 104.67||Rs 89.79|
|HYDERABAD||Rs 108.20||Rs 94.62|
|BANGALORE||Rs 100.58||Rs 85.01|
It may be noted that retail petrol and diesel prices differ from state to state on account of local taxes like VAT or freight charges. Moreover, any changes in fuel rates are implemented with effect from 6 AM every day.