Gasoline and diesel prices: Fuel prices remain stable across major cities today
Petrol and diesel prices today: Fuel prices were unchanged across metro cities on Saturday, February 26, 2022 for the 113rd day, despite a sharp increase in crude oil prices due to the escalation of the Ukraine-Russia conflict. This is the longest period of time that fuel prices have remained flat since the daily price correction began in June 2017.
The government on 4 November 2021, cut the excise tax on gasoline and diesel prices, which has reduced the tax rate to some extent. The excise tax for petrol is reduced by Rs 5 per liter while for diesel engines is reduced by Rs 10 per liter.
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 refineries such as Indian Oil, Bharat Petroleum and Hindustan Petroleum will adjust fuel rates on a daily basis, taking into account the international market price of crude oil 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, although international oil prices have skyrocketed, gasoline and diesel prices have remained unchanged. Also, with council elections in politically important states like Uttar Pradesh still underway, prices have remained flat.
