November 10, 2021 12:01:30 pm
Petrol and diesel price today: Prices of petrol and diesel were kept unchanged for the sixth consecutive day on Wednesday, November 10, 2021. The fuel prices were last revised on Thursday (November 4) after the central government had cut the excise duty on the two key fuels to bring down their retail rates from record highs.
The price of petrol in Delhi stands at Rs 103.97 per litre while that of diesel is at Rs 86.67. In Mumbai, petrol currently costs Rs 109.98, while diesel is retailing at Rs 94.14, data available on Indian Oil Corporation’s website showed.
Last week, the Finance Ministry had announced a Rs 5 per litre cut in excise duty on petrol and a Rs 10 per litre cut in excise duty on diesel. Amid record-high fuel prices, this was the first cut in central excise duties in over three years. The cut in duties brought the total excise duty on petrol down to Rs 27.9 per litre from Rs 32.9 litre and that on diesel to Rs 21.8 litre from Rs 31.8 per litre.
Reducing the excise duty, the centre also urged state governments to commensurately reduce VAT on petrol and diesel to give relief to consumers. Several states have announced a further reduction on Value Added Tax (VAT) on both petrol and diesel.
Auto fuel prices in the country differ from state to state depending on the local taxation (VAT) and freight charges. Apart from this, the central government charges an excise duty on auto fuels.
OMCs revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15-days and foreign exchange rates.
In the global market, oil prices rose on Wednesday, extending strong gains in the previous session, after industry data showed US crude stocks unexpectedly fell last week just as near-term travel demand picked up with Covid-19 pandemic curbs easing, news agency Reuters reported earlier in the day.
Brent crude futures climbed 32 cents (0.4 per cent) to $85.10 a barrel by 0416 GMT, after rising 1.6 per cent on Tuesday. US West Texas Intermediate (WTI) crude futures rose 9 cents (0.1 per cent) to $84.24 a barrel, adding to Tuesday’s 2.7 per cent gain, the report said.
Here’s what you pay for a litre of petrol and diesel in your city on Wednesday, November 10, 2021:
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|
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