Petrol and diesel prices in your city today

In the last two months, petrol price has gone up by Rs 4.87 per litre while diesel rates have increased by Rs 4.99 during this period.

Fuel prices differ from state to state as taxes get levied on them by both central as well as state governments along with the freight charges. The central and state taxes make up for 60 per cent of the retail selling price of petrol and over 54 per cent of diesel.

The central government levies Rs 32.90 per litre of excise duty on petrol and Rs 31.80 a litre on diesel.

Generally, petrol and diesel prices get revised on a daily basis in line with benchmark international price and foreign exchange rates.

In the global market, oil prices fell more than 1 per cent on Tuesday, extending losses that began last week, as investors unwound long positions on concern that OPEC may agree to increase global supply in a meeting this week and Chinese demand may be slipping, news agency Reuters said in a report earlier today.

Brent crude dropped 78 cents (1.2 per cent) to $62.91 a barrel by 0138 GMT, after losing 1.1 per cent the previous day. US West Texas Intermediate (WTI) crude slid 74 cents (1.2 per cent) to $59.90 a barrel, having lost 1.4 per cent on Monday, the report said.

Here’s what you pay for a litre of petrol and diesel in your city on Tuesday, March 2, 2021: