Petrol and diesel prices on Saturday, August 19, remained unchanged in major cities of India, including New Delhi, Mumbai, Chennai, and Kolkata. In Delhi, petrol price stood at Rs 96.72 per litre and diesel price was at Rs 89.62 per litre. In Mumbai, petrol was selling at Rs 106.31 per litre and diesel at Rs 94.27 per litre.
In Kolkata, the per-litre petrol price was at Rs 106.03 and that of diesel stood at Rs 92.76. In Chennai, the petrol price was at Rs 102.63 per litre and diesel was at Rs 94.24 per litre. In Noida, petrol sold at Rs 96.79 per litre and diesel at Rs 89.96 per litre. In Gurugram, people were buying per-litre petrol at Rs 97.18 and diesel at Rs 90.05.
Among other cities, in Lucknow, petrol was at Rs 96.57 per litre and diesel at Rs 89.76 per litre. In Patna, petrol stood at Rs 107.24 per litre and diesel at Rs 94.04 per litre. Petrol in Bhopal was at Rs 108.65 and diesel was at Rs 93.90. In Chandigarh, petrol was selling at Rs 96.20 a litre and diesel was at Rs 84.26 a litre.
According to reports, the government is considering a proposal to reduce taxes applicable on petrol in addition to easing import tariffs on expensive items like cooking oil and wheat. According to a Bloomberg report quoting people familiar with the matter, government officials are considering a plan to reallocate as much as Rs 1 lakh crore from the budgets of various ministries to contain surging food and fuel costs.
Crude oil prices rose about 1 per cent on Friday on signs of slowing US output, but both crude benchmarks also ended their longest weekly rally of 2023 on mounting concerns about global demand growth, according to a Reuters report.
West Texas Intermediate (WTI) crude futures gained 86 cents, or 1.1 per cent, to settle at $81.25 a barrel, and Brent crude futures rose 68 cents, or 0.8 per cent, to settle at $84.80 a barrel.
Both benchmarks pushed higher on Friday after industry data showed that the US oil and natural gas rig count, an early indicator of future output, fell for the sixth week in a row. A slump in US production could exacerbate an anticipated supply tightness through the rest of this year.
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