As the second wave of COVID-19 spreads its grasp over the country, the prices of crude oil have been subjected to a continuous fluctuation.
On Thursday, the prices of petrol and diesel increased by 30 paise across the metros of India. Of the four metro cities, Delhi, Mumbai, Chennai and Kolkata, Mumbai has witnessed the worst spike in petrol and diesel prices.
In the national capital, the revised prices of petrol have increased by 25 paise per litre from Rs. 90.74 per litre to Rs. 90.99 per litre and that of diesel have increased by 30 paise per litre from Rs. 81.12 per litre to Rs. 81.42 per litre in compliance with the reports by Indian Oil Corporation.
In Mumbai, the prices of petrol and diesel have become Rs. 97.34 per litre and Rs. 88. 49 per litre in order. Similarly in the other two metro cities Chennai and Kolkata, the prices of petrol have become Rs. 92.90 per litre and Rs. 91.14 per litre respectively while prices of diesel have become Rs. 86.35per litre and Rs. 84.26 per litre respectively.
This difference in the prices of petrol and diesel in different states of the country is due to value-added tax.
The states run oil marketing companies along with Bharat Petroleum, Indian Oil Corporation and Hindustan Petroleum, align the prices for domestic crude oil with global crude oil prices with consideration to the foreign exchange rates to decide the revised prices for domestic crude oil.
The new changes in the prices of crude oil are updated and implemented every day at 6 am, reported NDTV.