Fuel Prices On August 29: Petrol, Diesel Prices Unchanged

According to a price announcement issued by state-run oil companies on August 29, gasoline and diesel prices across the country remained unchanged for the fifth consecutive day.

In Kolkata, the price of a litre of petrol and diesel remained steady at Rs 101.82 and Rs 91.98, respectively.

On August 24, the price of petrol in Delhi was reduced to Rs 101.49 per litre and the price of diesel to Rs 88.92 per litre. On August 29, prices in the national capital were unchanged.

Fuel prices in Mumbai followed a similar pattern. The price of petrol remained steady at Rs 107.52 per litre. On May 29, the financial hub became the first city in the country to sell petrol for more than Rs 100 per litre.

The price of diesel in Maharashtra's capital stayed unchanged at Rs 96.48 per litre.

A litre of petrol was also sold in Chennai for the same price - Rs 99.20. The DMK government in Tamil Nadu had previously pledged a Rs 3 per litre reduction in petrol taxes. In Tamil Nadu's capital, the price of diesel remained steady at Rs 93.52 per litre.

International oil prices fell to their lowest level since May on August 24 as the US Federal Reserve signaled it will begin cutting asset purchases in the coming months, hitting commodities and raising the currency.

Following the US Federal Reserve's announcement that it will begin decreasing asset purchases within months, international oil prices plummeted to their lowest level since May, hitting commodities and raising the currency.

Meanwhile, the government of Puducherry stated on August 25 that the territory administration has reduced the value-added tax (VAT) on gasoline by 3%. According to an official news release, Chief Minister N Rangasamy made the decision on the reduction during a meeting of the territory cabinet earlier in the day, and Lieutenant Governor Tamilisai Soundararajan approved it.