Gasoline and diesel rates today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Gasoline and diesel prices remained unchanged on Wednesday as the WTO held prices steady for the thirty-first straight day. Prices have remained unchanged since Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol of Rs 8 per liter and Rs 6 per liter on diesel earlier on May 21, 2022. The price of l petrol in Delhi today stands at Rs 96.72 per liter compared to Rs 105.41 a liter before the excise duty reduction, while diesel will cost Rs 89.62 per liter instead of Rs 96, 67. In Mumbai, a liter of petrol costs Rs 111.35 while diesel sells for Rs 97.28 per litre.
Public sector CMOs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise fuel prices daily based on international benchmark prices and exchange rates. Any changes to gasoline and diesel prices are implemented with effect from 6 a.m. daily. Retail gasoline and diesel prices differ from state to state due to local taxes such as VAT or freight charges.
After the central government’s decision to reduce excise duties, several state governments reduced VAT on gasoline and diesel. After the finance minister’s decision, the government of Kerala announced a reduction in the tax on petrol and diesel prices by Rs 2.41 and Rs 1.36 per liter respectively. The Rajasthan government has reduced VAT on petrol by Rs 2.48 per liter and diesel by Rs 1.16 per litre. The Maharashtra government has reduced VAT on a petrol per liter by Rs 2.08 and on diesel by Rs 1.44 per litre. The Odisha government has also reduced petrol and diesel taxes by Rs 2.23 and Rs 1.36 per liter respectively.
Gasoline and Diesel Prices in Chennai, Kolkata, Bangalore, Lucknow, Noida, Gurugram
Mumbai: Petrol price: Rs 111.35 per litre, Diesel price: 97.28 per liter
Delhi: Petrol price: Rs 96.72 per liter, Diesel price: Rs 89.62 per liter
Chennai: Petrol price: Rs 102.63 per liter, Diesel price: Rs 94.24 per liter
Kolkata: Petrol price: Rs 106.03 per liter, Diesel price: Rs 92.76 per liter
Bengaluru: Petrol: Rs 101.94 per liter, Diesel: Rs 87.89 per liter
Lucknow: Petrol: Rs 96.57 per liter, Diesel: Rs 89.76 per liter
Noida: Petrol: Rs 96.57 per liter, Diesel: Rs 89.96 per liter
Gurugram: Petrol: Rs 97.18 per liter, Diesel: Rs 90.05 per liter
Chandigarh: Petrol: Rs 96.20 per liter, Diesel: Rs 84.26 per liter
Oil prices fall as Biden pushes for US fuel cost cuts
Oil prices slipped in early trading on Wednesday amid a push by US President Joe Biden to reduce soaring fuel costs, including pressure on major US companies to help ease the pain of drivers during the peak in the country’s summer demand, according to Reuters. U.S. West Texas Intermediate (WTI) crude futures fell $1.34, or 1.2%, to $108.18 a barrel at 0031 GMT, while Brent crude futures fell $1.33, or 1.2%, to $113.32 a barrel.