Petrol Diesel Price Today: Check fuel rates in your city

In Maharashtra, petrol and diesel rates were altered last week after the state government announced the reduction in the value added tax (VAT) on petrol and diesel by Rs 5 per litre and Rs 3 per litre, respectively. Following this decision, petrol price got reduced by Rs 5.04 per litre and diesel price got cut by Rs 3.01 per litre, the next day, in Mumbai.

In India, petrol and diesel prices vary in each state, depending on the local taxes (VAT) and freight charges. Furthermore, the Centre collects excise duty on the two automotive fuels.

Generally, the oil marketing companies (OMCs) generally alter petrol and diesel prices on a daily basis depending on the average price of benchmark fuel over the preceding 15 days in the global market and foreign exchange rates.

On Wednesday, the Centre eliminated the Rs 6 per litre export tax on petrol and cut the same on ATF by Rs 2 per litre to Rs 4. This apart, the government also cut export tax on diesel by Rs 2 to Rs 11 per litre. Moreover, the additional cess on domestically produced crude oil, which was previously Rs 23,250 per tonne, was lowered to Rs 17,000 per tonne.

In the international market, Brent crude futures dropped 77 cents (0.7 per cent), to $106.15 a barrel by 0427 GMT after slipping 0.4 per cent in the previous session. US West Texas Intermediate crude futures fell 88 cent (0.9 per cent), to $99.00 a barrel following a 1.9 per cent drop on Wednesday, Reuters data showed.

Here’s what you pay for a litre of petrol and diesel in your city on Thursday, July 21, 2022: