Petrol, diesel prices remain steady for 13 straight days; check today’s rates in Delhi, Mumbai, other cities

By: |
March 12, 2021 2:33 PM

Petrol and Diesel Price Today in India: Petrol and Diesel Rate on March 12, 2021 remained steady in the country. In Delhi, petrol prices stand at Rs 91.17 per litre while diesel is available for Rs 81.47 per litre.

At the present price levels, additional revenue of about 70% is expected from the project, with improved or higher value addition, the company said in a statement.At the present price levels, additional revenue of about 70% is expected from the project, with improved or higher value addition, the company said in a statement.

Petrol and Diesel Rate Today in Delhi, Chennai, Mumbai: Petrol and diesel prices in India remained unchanged for the 13th consecutive day on Friday, March 12, 2021. Last month, petrol price was raised by 24 paise and diesel price was hiked by 15 paise per litre, since then, there has not been any revision in auto fuel prices so far. In Delhi, petrol prices stand at Rs 91.17 per litre while diesel is available for Rs 81.47 per litre on Friday, as per the data from Indian Oil Corporation (IOL) website. So far this month, the pump prices of petrol and diesel have been stagnant. People in the economic capital of India, Mumbai, will have to shell out Rs 97.57 for a litre of petrol. While a litre of diesel costs Rs 88.60 on Friday. Rajasthan and Madhya Pradesh levy the highest VAT on fuel in the country. Petrol prices in these two states crossed Rs 100 per litre last month.

Petrol and diesel prices differ from state to state depending on the incidence of local sales tax or VAT and freight charges. Central and state taxes make up for over 61 per cent of the retail selling price of petrol and about 56 per cent of diesel. Centre levies Rs 32.90 per litre of excise duty on petrol and Rs 31.80 a litre on diesel. The fuel prices are revised on a daily basis in accordance with benchmark international price and foreign exchange rates.

In Chennai, petrol is retailing at Rs 93.11 per litre while diesel costs Rs 86.45 a litre. However, in Kolkata, petrol is available at Rs 91.35 a litre, and a litre of diesel will cost Rs 84.35. Last month, poll-bound West Bengal slashed VAT (value-added tax) by Re 1 on petrol and diesel.

In the international market, Brent crude prices eased on Friday but hovered near $70 a barrel as production cuts by major oil producers constrained supply, with optimism about a recovery in demand for the resource in the second half of the year also lending support, according to a Reuters report. Brent crude futures for May slipped 33 cents, or 0.5 per cent, to $69.30 a barrel while US West Texas Intermediate crude for April was at $65.65 a barrel, down 37 cents, or 0.6 per cent

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