The fuel prices are calculated after adding on a number of levies and therefore, they differ from state to state. 
The fuel prices are calculated after adding on a number of levies and therefore, they differ from state to state. Petrol and diesel prices on August 3: Indian oil marketing companies have kept the petrol and diesel prices unchanged in New Delhi, Kolkata, Mumbai, and Chennai on Thursday, August 3. There were minor tweaks in West Bengal, Uttar Pradesh, Maharashtra, Punjab, Rajasthan and Telangana.
In Delhi, petrol price stands at Rs 96.72 per litre, while diesel is being sold at Rs 89.62 per litre. In Mumbai, petrol is being sold for Rs 106.31 per litre, while diesel is available for Rs 94.27 per litre.
In Kolkata, the cost of petrol is Rs 106.31 per litre inclusive of taxes, diesel is available for Rs 92.76 per litre with taxes. In Chennai, petrol is available at Rs 102.63 per liter, while diesel can be obtained at Rs 94.24 per liter.
Price revision
Cities in Maharashtra increased the price of petrol by 35 paise and diesel by 33 paise. In Punjab too, petrol has become costlier by 32 paise and diesel by 30 paise. Telangana cities also saw a slight increase in prices.
There is a drop of 14 paise in the price of petrol and 12 paise in diesel in Rajasthan. There is a slight drop in the prices of petrol and diesel in West Bengal.
Here is the fresh price chart for major cities:
Petrol: Rs 101.94
Diesel: Rs 87.89
Petrol: Rs 98.65
Diesel: Rs 88.95
Petrol: Rs 102.86
Diesel: Rs 94.46
Petrol: Rs 97.04
Diesel: Rs 89.91
Petrol: Rs 106.03
Diesel: Rs 92.76
Petrol: Rs 96.43
Diesel: Rs 89.65
Petrol: Rs 106.31
Diesel: Rs 94.27
Petrol: Rs 96.72
Diesel: Rs 89.62
Noida (Gautam Buddha Nagar)
Petrol: Rs 96.65
Diesel: Rs 89.82
Petrol: Rs 96.58
Diesel: Rs 89.75
The fuel prices are calculated after adding on a number of levies and therefore, they differ from state to state. These levies are Value Added Tax (VAT), freight charges, local taxes, etc.
The Indian government has kept the fuel rates at a steady level since last May. On May 21, 2022, Finance Minister Nirmala Sitharaman revised the excise duty and slashed it on petrol by Rs 8 per litre and Rs 6 per litre on diesel.
Since then, a few states, Punjab, Himachal Pradesh, have hiked the prices.
Global crude oil prices
Crude oil futures were slightly higher on Thursday morning as the data from the US EIA (Energy Information Administration) confirmed a decline in the crude oil inventories in the top consumer nation.
At 9.53 am on Thursday, October Brent oil futures were at $83.25, up by 0.06 per cent, and September crude oil futures on WTI (West Texas Intermediate) were at $79.53, up by 0.05 per cent.
August crude oil futures were trading at Rs 6,577 on Multi Commodity Exchange (MCX) during initial trading against the previous close of Rs 6,556, up by 0.32 per cent.
Despite a larger than expected draw in the U.S. oil stocks, prices fell in the international markets. Surprise rating downgrades by the U.S. rating agency Fitch for the U.S. debts from AAA to AA+ led to a sell-off in global financial markets and also pushed oil prices lower.
“Crude oil prices fell more than 2% in the international markets despite a record decline in the U.S. oil stocks. As per the U.S. EIA, crude oil inventories in the U.S. dropped by 17 million barrels last week, its highest decline in inventories in any single week since 1982. Traders also booked profit in their long positions ahead of the OPEC+ meeting scheduled this week. We expect crude oil prices to remain volatile in today’s session. Crude oil has support at $78.50–77.80 and resistance at $80.40–81.30 in today’s session. In INR Crude oil has support at Rs 6,470-6,410, while resistance is at Rs 6,640–6,710,” said Rahul Kalantri, VP Commodities, Mehta Equities Ltd.
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