Petrol and Diesel Rates Today in Delhi, Mumbai, Bengaluru, Kolkata: Prices of petrol and diesel remained unchanged for the 47th consecutive day on Friday, July 8, 2022.
In Delhi, petrol continues to retail at Rs 96.72 per liter, while diesel is available for Rs 89.62 per liter. Simultaneously, in Mumbai, petrol stands at Rs 111.35 per liter, while diesel costs Rs 97.28 per liter.
Both the automotive fuels experienced their last price change in May when Finance Minister Nirmala Sitharaman announced a reduction in the excise duty of petrol and diesel by Rs 8 and Rs 6, respectively. On May 22, as a result of this decision, the price of petrol and diesel in the national capital was reduced by Rs. 8.69 per liter and Rs. 7.05 per liter, respectively.
In India, the price of petrol and diesel varies in each state depending on the local taxes (VAT) and freight charges. This apart, the central government collects an excise duty on the two auto fuels.
An export tax of Rs 6 per liter on petrol and ATF, and Rs 13 per liter on diesel was imposed by the Center last week. Also, to counteract producers’ windfall profits from high oil prices abroad, a charge of Rs 23,230 per ton was added to the price of domestic crude oil production.
Oil Marketing Companies (OMCs) typically update the price of petrol and diesel on a daily basis based on the benchmark fuel’s average price over the previous 15 days in the international market and foreign exchange rates.
In the international market, oil prices slipped in Asian trade on Friday as recession fears continued to weigh on sentiment, though worries over tight global supplies capped price declines, news agency Reuters reported.
Brent crude futures fell 25 cents, or 0.2%, to $104.40 a barrel by 0311 GMT, dropping away after a near 4% rebound on Thursday. US West Texas Intermediate crude slipped 41 cents, or 0.4%, to $102.32 a barrel, having settled 4.2% higher a day earlier, the report said.
Petrol and diesel rates in the major cities on Friday, July 8, 2022:
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|