New Delhi: Despite the rise in international crude oil prices, petrol and diesel prices remained stable for the 33rd consecutive day. Petrol price in Delhi was reduced by about Rs 8 per liter on December 2 due to reduction in VAT rate. Even after that, petrol in Delhi is still stable at Rs 95.41 per liter and diesel at Rs 86.67 per liter.
Today, global business started with an increase in Singapore. London Brent crude traded up 0.38 percent at 73 73.36 a barrel and US crude traded up 0.53 percent at .8 69.86 a barrel.
The reduction in excise duty on petrol and diesel by Rs 5 and Rs 10 per liter, respectively, on the occasion of Diwali by the central government had brought down the prices of these two fuels in the country. Since then, 22 states of the country, including Uttar Pradesh and Karnataka, and the Union Territories have reduced the value added tax (VAT) on these two products.
