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The petrol and diesel prices remained unchanged on Saturday across various cities in the country including the national capital Delhi, Mumbai, Kolkata, etc. There has been no change in the prices of petrol and diesel in India for more than three months. The rate of petrol in the country's capital Delhi is ₹95.41 per liter today while that of diesel is ₹86.67 per litre.
In the country's financial capital Mumbai, the petrol and diesel prices have remained static to ₹109.98/litre and ₹94.14 per litre, respectively. As for Kolkata and Chennai, petrol and diesel cost ₹104.67 and ₹89.79 and ₹101.40 and ₹91.43 respectively in Chennai.
There has been no change in the prices of petrol and diesel in India for more than three months when the price of both Petrol and diesel were reduced in November last year.
Prices differ from state to state, depending on the incidence of local taxes and cost of transportation.
As per the Ministry of Petroleum and Natural Gas, following the reduction, 23 states/UTs also undertook a commensurate reduction of VAT on Petrol and Diesel to give relief to consumers.
Meanwhile, oil prices ended the week mixed on Friday as investors weighed a potential supply disruption resulting from the Russia-Ukraine crisis against the prospect of increased Iranian oil exports.
Brent crude futures settled 57 cents, or 0.6%, higher at $93.54 a barrel, while U.S. West Texas Intermediate (WTI) crude ended down 69 cents, or 0.5%, at $91.07 a barrel. U.S. markets will be closed on Monday for the Presidents Day holiday.
Both benchmarks hit their highest levels since September 2014 on Monday, but growing prospects of easing oil sanctions against Iran has weighed on the market.
Brent posted a small 0.9% rise in its ninth weekly gain, while WTI fell 1.7% week, snapping an eight-week rally.
Fears over possible supply disruptions resulting from the Russian military presence at Ukraine's borders limited losses this week. The West has threatened Russia, a top oil and gas supplier, with new sanctions if it attacks Ukraine; Russia denies planning any attacks.
*With inputs from agencies
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