Petrol, Diesel Prices Today: Once again there has been a jump in crude oil in the international market. The price of crude oil has reached close to $100 per barrel. Brent crude futures are trading at $98.15 per barrel. However, the prices of petrol and diesel in India are still stable. Today, for the 84th consecutive day, there has been no change in the prices of petrol and diesel. The last time the Modi government at the Center reduced the excise duty on petrol and diesel was on May 21, following which petrol became cheaper by Rs 9.50 and diesel by Rs 7 per liter across the country. After the decision of the central government, many states also provided relief to the people by reducing VAT.
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 106.03 per litre and diesel costs Rs 94.27 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: