Fuel Prices: Petrol and diesel prices vary from state to state due to value added tax (VAT).The oil marketing companies kept the prices of petrol and diesel unchanged on Tuesday (November 10). In Delhi, the price of petrol remained at Rs 81.06 per litre and diesel was Rs 70.46 per litre, according to notifications from state-run Indian Oil Corporation.
In financial capital Mumbai, prices of petrol and diesel were Rs 87.74 per litre and Rs 76.86 per litre respectively.
The oil firms such as Indian Oil Corporation revise the fuel rates on a daily basis and implement the changes with effect from 6 am. (Also Read: How To Find Latest Petrol, Diesel Rates In Your City)CityPetrolDieselDelhi81.0670.46Mumbai87.7476.86Chennai84.1475.95Kolkata82.5973.99Source: Indian OilBharat Petroleum Corporation, Indian Oil Corporation, and Hindustan Petroleum Corporation - which account for the majority of petrol and diesel stations in India - align the domestic rates with global benchmarks by taking into account changes in foreign exchange levels.
Due to the local taxes, crude oil prices vary in different cities across the country.Meanwhile, oil prices fell in early trade on Tuesday as concerns over demand in the near term in coronavirus-hit economies in Europe and the United States returned to haunt the market after an overnight surge on progress towards a COVID-19 vaccine.U.S.
West Texas Intermediate (WTI) crude futures dropped 81 cents, or 2 per cent, to $39.48 a barrel at 0029 GMT.
OPEC+ agreed to cut supply by 7.7 million barrels per day from August through December to help support prices and then ease the cut to 5.7 million bpd from January.
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