A liter of petrol costs Rs 95.41 in Delhi, while the price of diesel is at Rs 86.67 per liter.
Petrol and diesel prices today: Fuel prices were flat for 102 consecutive days across metro cities on Tuesday, February 15, 2022. This is the longest period of time when prices have remained the same, since the commodity price revision. Dates start in June 2017.
Prior to that, there was an 82-day hiatus in rate revisions from March 17, 2020 to June 6, 2020, when the national lockdown was in place.
The central government cut the excise tax on November 4, 2021, to ease prices that have hit all-time highs. The government has cut taxes on gasoline by Rs 5 per liter and on diesel by Rs 10 per liter, resulting in a significant reduction in fuel prices.
At the end of December 2021, the Delhi government reduced the value added tax on petrol from 30% to 19.40%. With this, the price of petrol in the national capital fell by Rs 8.56 per liter.
A liter of petrol costs Rs 95.41 in Delhi, while the price of diesel is at Rs 86.67 per liter. In Mumbai, petrol retails for Rs 109.98 per liter, while diesel is sold for Rs 94.14 per liter. Among metro cities, fuel prices are still the highest in Mumbai. Fuel prices vary from state to state due to value added tax or VAT. (Also Read: How to check the latest gas and diesel rates in your city).
Here are gas and diesel prices in major cities:
State-run refiners such as Indian Oil, Bharat Petroleum and Hindustan Petroleum will adjust fuel prices on a daily basis, taking into account international crude oil prices and the US dollar exchange rate. Any changes in petrol and diesel prices will be made from 6:00 a.m. daily.
India is 85% dependent on imports to meet its oil needs, and domestic gasoline and diesel prices are related to international prices. But over the past three months, despite soaring international oil prices, gasoline and diesel prices have remained flat ahead of elections in key states like Uttar Pradesh and Punjab.
Globally, oil prices fell as investors took profits from the previous day’s rally to a seven-year high and as global stock markets plunged, although losses were capped on concerns that Russia could invade Ukraine and disrupt supplies. Brent crude oil futures were at $96.19 a barrel, down 29 cents, or 0.3%, after rising $2.04 on Monday. U.S. West Texas Intermediate (WTI) crude fell 36 cents, or 0.4%, to $95.10 a barrel, after rising $2.36 the previous day. Both benchmarks hit their highest levels since September 2014 on Monday, with Brent hitting $96.78 and WTI hitting $95.82.
