Petrol and Diesel Price Today in India: Petrol in Delhi is retailing at Rs 96.72, while Diesel is price at Rs 89.62 per litre.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The oil prices in the country have not been changed on 18 December 2022 and costs have been steady for about six months now. The last country-wide change in fuel rates was on 21 May this year, when Finance Minister Nirmala Sitharaman slashed excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel. In Mumbai, petrol costs Rs 106.31 per litre and diesel is at Rs 94.27 per litre. The petrol rate and diesel price in Delhi are at Rs 96.72 and Rs 89.62 per litre, respectively.
The prices of petrol and diesel change state by state, depending upon various criteria such as Value Added Tax (VAT), freight charges, the local taxes, etc. Any changes in petrol and diesel costs are implemented from 6 am every day. Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise their prices daily in line with international benchmark prices and forex rates.
Since the cut of excise duty by the central government, some states have also reduced VAT prices on fuels. Meghalaya was the last state to update the fuel prices when it increased VAT on August 24, because of which petrol now costs Rs. 96.83 per litre in Shillong and diesel is now priced at Rs. 84.72 per litre. The Maharashtra government cut value-added tax (VAT) on petrol by Rs 5 a litre and by Rs 3 a litre for diesel in July.
Petrol, diesel prices in Chennai, Kolkata, Bengaluru, Lucknow, Noida, Gurugram
Chennai: Petrol price: Rs 102.63 per litre, Diesel price: Rs 94.24 per litre
Kolkata: Petrol price: Rs 106.03 per litre, Diesel price: Rs 92.76 per litre
Bengaluru: Petrol: Rs 101.94 per litre, Diesel: Rs 87.89 per litre
Lucknow: Petrol: Rs 96.57 per litre, Diesel: Rs 89.76 per litre
Noida: Petrol: Rs 96.79 per litre, Diesel: Rs 89.96 per litre
Gurugram: Petrol: Rs 97.18 per litre, Diesel: Rs 90.05 per litre
Chandigarh: Petrol: Rs 96.20 per litre, Diesel: Rs 84.26 per litre
Mumbai: Petrol price: Rs 106.31 per litre, Diesel price: 94.27 per litre
Delhi: Petrol price: Rs 96.72 per litre, Diesel price: Rs 89.62 per litre
The price of the Indian basket of crude oil has hit the lowest levels since the Ukraine conflict began in February this year. However, fuel prices have remained unchanged for over six months now. Petrol rate and diesel rates have remained the same as to when crude price was over $100 per barrel. Crude oil is trading near $73 a barrel, a decline of about 40% from a high of $130 per barrel, and could slip further in the coming days if China is unable to extricate itself from an economic slowdown due to Covid. In addition, crude prices will remain under pressure because of slow global growth projected by the World Bank and the fading concerns around Russia’s invasion of Ukraine.
