Petrol prices remain unchanged today; global crude tumbles
Petrol on February 28 stood at Rs 71.51 per litre in New Delhi, Rs 74.26 per litre in Kolkata, Rs 79.39 per litre in Mumbai and Rs 74.14 per litre in Chennai.
Petrol prices remained unchanged on Wednesday despite global crude oil tumbled for a second-consecutive day.
Data given by Indian Oil showed that petrol on February 28, stood at Rs 71.51 per litre in New Delhi, Rs 74.26 per litre in Kolkata, Rs 79.39 per litre in Mumbai, and Rs 74.14 per litre in Chennai.
Petrol price were in similar range on February 27, 2018.
State-owned oil marketing companies (OMCs) like IOCL, Bharat Petroleum Corp Limited (BPCL) and Hindustan Petroleum Corp Limited (HPCL) have started to bring petrol and diesel prices from February 8.
Currently, petrol and diesel price revision in various cities are determined by global crude rates, rupee-dollar exchange rate along with excise duty and VAT levied by the ministry and the state government.
Meanwhile, US West Texas Intermediate crude was down 41 cents, or 0.65% at $62.60 a barrel by 0342 GMT, after falling 90 cents the previous session.
Brent crude was down 40 cents, or 0.6% at $66.23 a barrel. On Tuesday, the contract fell 87 cents to close at $66.63.
Traders in a Reuters report stated that oil prices declined on concerns a slowdown in global economic growth after China reported on Wednesday that factory growth in February slowed to the lowest since July 2016.
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