Gasoline and diesel prices today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Gasoline and diesel prices remained unchanged on Wednesday, as OMC kept prices stable for the thirty-first day in a row. Prices have remained unchanged since Finance Minister Nirmala Sitaraman announced a reduction in excise duty on petrol by 8 per liter and 6 rupees per liter for diesel earlier on 21 May 2022. The price of petrol in Delhi today stands at 96.72 rupees per liter against 105.41 rupees per liter before the reduction of excise duty, while diesel will cost 89.62 rupees per liter compared to 96.67 rupees. In Mumbai, a liter of petrol costs 111.35 rupees, while diesel sells for 97.28 rupees per liter.
Public sector OMCs, including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL), review fuel prices on a daily basis in line with international reference prices and exchange rates. All changes in gasoline and diesel prices are applied from 6 am every day. Retail gasoline and diesel prices vary from state to state due to local taxes such as VAT or freight rates.
Following the central decision to reduce excise duty, several US governments have reduced VAT on petrol and diesel. Following the move by the Minister of Finance, the Government of Kerala announced a reduction in the tax on gasoline and diesel prices by 2.41 and 1.36 rupees per liter, respectively. The Rajasthan government has reduced VAT on petrol by 2.48 rupees per liter and diesel by 1.16 rupees per liter. The Maharashtra government has reduced VAT on one per liter of petrol by 2.08 rupees and diesel by 1.44 rupees per liter. The Odisha government has also reduced taxes on petrol and diesel by Rs 2.23 and Rs 1.36 per liter respectively.
Prices of gasoline, diesel fuel in Chennai, Kolkata, Bengaluru, Lucknow, Noida, Gurugram
Mumbai: Gasoline price: Rs 111.35 per liter, Diesel price: 97.28 per liter
Delhi: Gasoline price: Rs 96.72 per liter, Diesel price: Rs 89.62 per liter
Chennai: Gasoline price: Rs 102.63 per liter, Diesel price: Rs 94.24 per liter
Quantity: Gasoline price: 106.03 Rs per liter, Diesel price: Rs 92.76 per liter
Bengal: Petrol: Rs 101.94 per liter, Diesel: Rs 87.89 per liter
Lucknow: Gasoline: 96.57 rupees per liter, diesel: 89.76 rupees per liter
Noida: Petrol: 96.57 rupees per liter, diesel: 89.96 rupees 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 lower US fuel costs
Oil prices fell at the start of trading on Wednesday amid pressure from US President Joe Biden to cut rising fuel prices, including pressure on major US companies to help relieve pain for drivers during the country’s peak summer demand , according to Reuters. West Texas Intermediate (WTI) crude futures fell $ 1.34, or 1.2 percent, to $ 108.18 a barrel at 12:31 a.m. GMT, while crude Brent futures fell $ 1.33, or 1.2%, to $ 113.32 a barrel.