
Brent crude hits a month low, but petrol, diesel prices remain steady
Brent crude oil price has fallen 9.2% in the last two days to $78.01 per barrel, the lowest level since December 12, 2022.
Brent crude oil price has fallen 9.2% in the last two days to $78.01 per barrel, the lowest level since December 12, 2022.
The tax rates are revised every fortnight based on prevailing international rates.
On July 1 this year, the Indian government joined a group of nations that imposed a windfall tax on crude oil owing to soaring energy prices.
The Centre has reduced tax on domestically-produced crude oil to ₹10,500 per tonne from ₹13,300 per tonne; tax levy on diesel lowered to ₹10 per litre.
Shares of ONGC, Reliance, Adani Total Gas, Indraprastha Gas, CPCL, and MRPL saw selling pressure after the govt revised the windfall tax on crude oil
The hike in ATF prices is likely to make air travel more expensive as aviation fuel constitutes around 40% of the running cost of an airline.
Aviation turbine fuel, used to fly airplanes, was raised by 2% to hit an all-time high ₹1,12,924.83 per kilolitre in the Delhi region.
Aviation turbine fuel (ATF) prices witnessed an 18% jump on Wednesday.
Aviation turbine fuel (ATF) prices have been hiked by 3.3% to a record high of ₹93,530.66 per kilolitre in Delhi.
This is the fourth hike in aviation turbine fuel (ATF) prices in 2022.