Petrol and diesel prices in your city today

Petrol and diesel prices vary from state to state as taxes get levied on them by both central as well as state governments along with the freight charges. Rajasthan levies the highest value-added tax (VAT) on petrol in the country, followed by Madhya Pradesh.

Fuel prices generally get revised on a daily basis in line with benchmark international price and foreign exchange rates.

The price of India’s crude oil basket, which comprises of Oman-Dubai sour grade and dated Brent sweet crude, was at $65.70 a barrel on Thursday, February 25, 2021, according to the data released by Petroleum Planning and Analysis Cell today.

In the global market, oil prices fell on Friday as a collapse in bond prices led to gains in the US dollar and expectations grew that with oil prices back above pre-pandemic levels, more supply is likely to come back to the market, news agency Reuters reported.

US West Texas Intermediate (WTI) crude futures dropped 36 cents (0.6 per cent) to $63.17 a barrel at 0241 GMT, giving up all of Thursday’s gains. Brent crude futures for April fell 18 cents (0.3 per cent) to $66.70 a barrel, following a 16 cent loss on Thursday. The April contract expires on Friday. The more active May contract fell 32 cents (0.5 per cent) to $65.79, the report said.

Here’s what you pay for a litre of petrol and diesel in your city on Friday, February 26, 2021: