Petrol Diesel Today: Prices of petrol and diesel were unchanged for the 87th consecutive day across India on Wednesday, August 17, 2022.
The rates of the two auto fuels have not altered across the country in nearly three months. They were simultaneously last revised across the country on May 22 when the central government had cut the excise duty on petrol by 8 per litre, and 6 rupees per litre on diesel. Since then fuel prices have been unchanged across the country except in Maharashtra where the state government last month reduced the value-added tax (VAT) on petrol and diesel by Rs 5 and Rs 3, respectively.
The price of petrol in the national capital stands at Rs 96.72 per litre while that of diesel is at Rs 89.62. In Mumbai, petrol currently costs Rs 106.31, while diesel is retailing at Rs 94.27, data available on Indian Oil Corporation’s website showed.
Petrol and diesel rates in India differ from state to state depending on the local taxation (VAT) and freight charges. Apart from this, the central government levies excise duty on the two auto fuels.
Generally, the state-owned oil marketing companies (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 international market, Brent crude futures rose 56 cents (0.6 per cent) to $92.90 a barrel by 0415 GMT. West Texas Intermediate (WTI) crude futures climbed 62 cents (0.7 per cent) to $87.15 a barrel, Reuters data showed.
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|