Petrol price remain unchanged on 18 May, 2020: Check out fuel prices in 4 metros | Economy News


New Delhi: Petrol and diesel prices remained unchanged on Monday.

 

According to the official website of Indian Oil Corporation Petrol price in Delhi remained at Rs 71.26 per litre, Rs 76.31 per litre in Mumbai, Rs 73.30 per litre in Kolkata and Rs Rs. 75.54 per litre in Chennai. On the other hand the price of diesel in Delhi, Mumbai, Kolkata and Chennai are at Rs 69.39 , Rs 66.21, Rs 65.62 and Rs 68.22 a litre respectively.

 

Petrol price in the national capital was hiked by Rs 1.67 a litre on May 5 and diesel by a steep Rs 7.10 per litre after the Delhi government raised local sales tax or value-added tax (VAT) on the two fuels.

This follows Delhi government’s decision to raise VAT on petrol to 30 per cent from 27 per cent, previously. In case of diesel, VAT has been almost doubled to 30 per cent from 16.75 per cent.

Oil prices climbed by more than $1 a barrel on Monday to their highest in more than a month, supported by ongoing output cuts and signs of gradual recovery in fuel demand as more countries ease curbs imposed to stop the coronavirus pandemic spreading.

Brent crude was up $1.19, or 3.7%, at $33.69 a barrel by 0240 GMT, after touching a high since April 13. U.S. West Texas Intermediate crude was up $1.26, or 4.3%, at $30.69 a barrel, after rising to its highest since March 16.

With Reuters Inputs





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