The Indian Oil Corporation informed on Friday that the petrol and diesel prices were reduced by 15 paise and 14 paise per litre respectively.
Afterthe cut in prices on Friday, a litre of diesel costs Rs 66.82 in Mumbai, Rs.66.66 in Guwahati and Rs 63.81 in Delhi, while a litre of petrol is priced atRs 76.83 in Mumbai, Rs. 73.22 in Guwahati and Rs 71.14 in Delhi. The retailprices of petrol and diesel are revised daily. The domestic fuel rates arerevised on the basis of crude prices in the international market.
However,the Karnataka Chief Minister B.S. Yediyurappa on Thursday said that petrol anddiesel would cost more in the state from April 1 due to tax hike on them in thestate Budget 2020-21. "Petrol rate will increase by Rs 1.60 per litre anddiesel by Rs 1.59 a litre from April 1, as I propose to increase 3 percentvalue-added tax (VAT) on both the fuels," Yediyurappa told the Assembly.
Globaloil benchmark Brent crude futures jumped 1.37 percent to USD 51.83 per barrel.Benchmark crude oil was down 1 cent to USD 46.76 per barrel in electronictrading on the New York Mercantile Exchange. Brent crude oil, the internationalstandard, shed 3 cents to USD 51.10 a barrel. The dollar fell to 106.89Japanese yen from 107.55 yen on Wednesday. The euro rose to USD 1.1182 from USD1.1131.
