Petrol, Diesel Prices on June 18: Government oil companies have released new rates of petrol and diesel for Saturday.A sudden fall in the prices of crude oil in the global market has been witnessed. Brent crude oil is trading at $113 per barrel on Saturday morning. Crude fell more than 5 per cent from its high in a single day. If there is further fall in crude oil, then it is believed that the prices of petrol and diesel will not see a hike in India. And this may bring big relief to the common man. The price of petrol and diesel remained unchanged even on Saturday.
Petrol is still being sold at Rs 96.72 in Delhi and Rs 111.35 per liter in Mumbai. The Centre had recently cut the prices of petrol and diesel, following which petrol price and diesel price dropped across the country. The fuel prices saw a sharp drop recently as a result of finance minister Nirmala Sitharaman announcing that the central government had decided to cut the excise duty on petrol and diesel given their exorbitant prices.
On May 21, Nirmala Sitharaman announced a cut in excise duty on petrol by 8 per litre, and 6 rupees per litre on diesel. As a result, petrol price was decreased by Rs 8.69 per litre while diesel was cut by Rs 7.05 in Delhi.
Petrol and diesel prices were last increased on April 6 by 80 paise a litre, taking the total hike in rates in 16 days to Rs 10 per litre. Between March 22 to April 6, petrol and diesel prices were hiked 14 times.
According to Goodreturns, in Noida, petrol price is Rs 96.64 per litre, while diesel rate is Rs 89.82 per litre. In Lucknow, petrol price is Rs 96.44 per litre, while diesel rate is Rs 89.64 per litre.
Petrol in Gurugram is selling for Rs 96.77 per litre while diesel stands at Rs 89.65 per litre. Petrol price in Delhi stands at Rs 96.72 a litre while the rate of diesel is Rs 89.62 per litre. In Mumbai, petrol rate stands at Rs 111.35 per litre and diesel costs Rs 97.28 for one litre.
It is noteworthy here that the prices of petrol and diesel differ from state to state depending on the VAT. Petrol in Kolkata stands at Rs 106.03 per litre while diesel costs Rs 92.76 a litre. In Chennai, the rate of petrol is Rs 102.73 per litre, while the price of diesel is Rs 94.33 per litre.
The oil marketing companies revise rates of fuels on a daily basis. The revision in fuel prices depends upon the fuel prices in the international market and foreign exchange rates.
Petrol and diesel prices today across major cities in India: