Fuel prices were unchanged on Friday across various cities in the country including the national capital Delhi, Mumbai, Kolkata, and Chennai.

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Accordingly, the price of petrol in Delhi stands at Rs 95.41 per litre. Recently, the Delhi government cut the VAT on petrol from 30 percent to 19.4 per cent, reducing the petrol price by Rs 8 in the national capital.

Meanwhile, the cost of one litre of diesel in Delhi stands unchanged at Rs 86.67 per litre on Monday. In Mumbai, the petrol and diesel prices stand at Rs 109.98 per litre and Rs 94.14 per litre, respectively.

In Kolkata and Chennai, petrol and diesel cost Rs 104.67 per litre and Rs 89.79 per litre and Rs 101.40 per litre and Rs 91.43 per litre respectively in Chennai.

Oil companies revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.

The prices of petrol and diesel are reviewed by oil marketing companies such as state-run Indian Oil on a daily basis and any revision is implemented from 6 am.

Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges.

Globally, oil prices rose on Friday as investors and traders were optimistic about positive economic data and discounted the impact of the Omicron coronavirus variant on the economy, even as COVID-19 case counts soar, according to news agency Reuters.

(Edited by : Anshul)