Petrol Diesel: Petrol and diesel prices remained unchanged for the 68th consecutive day across the nation on Friday, July 29, 2022.
In Mumbai, petrol costs Rs 106.31 per litre, while diesel is available for Rs 94.27. In Delhi, petrol retails at Rs 96.72 per litre, while diesel is selling for Rs 89.62, data available on Indian Oil Corporation’s website showed.
The two automotive fuels faced their last price alteration on May 22, after the central government reduced the excise duty on petrol and diesel by Rs 8 and Rs 6 per litre, respectively. Fuel prices have remained unchanged across the nation ever since, however, Maharashtra faced a change in fuel prices earlier this month after the new state government cut the value-added tax (VAT) on petrol and diesel by Rs 5 and Rs 3, respectively.
Petrol and diesel prices vary from state to state in India, depending on the local taxation (VAT) and freight charges. Additionally, the Centre imposes excise duty on the two automotive fuels.
The oil marketing companies (OMCs) usually adjust the price of petrol and diesel on a daily basis based on foreign exchange rates and the average price of benchmark fuel in the international market over the previous 15 days.
In the international market, US West Texas Intermediate (WTI) crude futures for September delivery rose 67 cents (0.7 per cent), to $97.09 a barrel by 0640 GMT, reversing losses from the previous session and on track for a nearly 3 per cent rise for the week. Brent crude futures for September settlement, due to expire on Friday, dipped 12 cents (0.1 per cent), at $107.02 a barrel. The more active October contract climbed 48 cents (0.5 per cent), to $102.31, as per Reuters data.
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|