Petrol and diesel rate for today: Prices of petrol and diesel remained unchanged across the nation for the 57th consecutive day on Monday, July 18, 2022.
In Mumbai, petrol retails at Rs 106.31 per litre and diesel is available for Rs 94.27, while in Delhi, petrol stands at Rs 96.72 per litre, while diesel remains available for Rs 89.62.
Prices of both motor fuels in Maharashtra went through a price alteration last week, following the state government’s announcement to reduce the value added tax (VAT) on petrol and diesel by Rs 5 and Rs 3 per litre, respectively. Prices of both petrol and diesel fell the day after the announcement, by Rs 5.04 per litre and Rs 3.01 per litre, respectively, in Mumbai.
In India, the prices of petrol and diesel vary from state to state depending on the local taxes (VAT) and freight charges. In addition to this, the two automotive fuels are also subject to excise duty, levied by the central government.
The oil marketing companies (OMCs) typically change the price of petrol and diesel on a daily basis in accordance with the benchmark fuel’s average price in the international market over the previous 15 days as well as foreign exchange rates.
In the international market, Brent crude futures for September settlement rose 69 cents (0.7 per cent) to $101.85 a barrel by 0421 GMT. US West Texas Intermediate (WTI) crude futures for August delivery edged up 27 cents (0.3 per cent) to $97.86 a barrel, after climbing 1.9 per cent in the previous session, as per Reuters data.
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|