Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad:Theoil pricesin the country have not been changed on 23 December 2022 and costs have been steady for about seven months now. The last country-wide change infuel rateswas on 21 May this year, when Finance MinisterNirmala Sitharamanslashed excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel. In Mumbai, petrol costs Rs 106.31 per litre and diesel is at Rs 94.27 per litre. Thepetrol priceanddiesel pricein Delhi are at Rs 96.72 and Rs 89.62 per litre, respectively.
Any changes in petrol and diesel costs are implemented from 6 am every day. Public sector OMCs includingBharat Petroleum CorporationLtd (BPCL),Indian Oil Corporation Ltd (IOCL)andHindustan Petroleum Corporation Ltd (HPCL)revise their prices daily in line withinternational benchmark pricesand forex rates. The prices of petrol and diesel change state by state, depending upon various criteria such as Value Added Tax (VAT), freight charges, the local taxes, etc.
Since the cut ofexcise dutyby the central government, some states have also reduced VAT prices on fuels. The Maharashtra government cut value-added tax (VAT) onpetrolby Rs 5 a litre and by Rs 3 a litre for diesel in July. Meghalaya was the last state to update the fuel prices when it increased VAT on August 24, because of whichpetrolnow costs Rs 96.83 per litre in Shillong and diesel is now priced at Rs 84.72 per litre.