Petrol, Diesel Rates Today, June 27, 2022: Check fuel rates in Mumbai, Delhi, Chennai and other cities

The price of petrol and diesel varies from state to state in India depending on freight charges and local taxes (VAT). Apart from this, excise duty is also imposed on the fuels by the central government.

The most recent price change for these two key auto fuels occurred on May 22. The price of petrol was cut by Rs 8.69, while that of diesel was cut by Rs 7.05 in the national capital. The fuel prices across the country were last altered when Union Finance Minister Nirmala Sitharaman announced an 8-rupee reduction in petrol excise duty and a 6-rupee reduction in diesel excise duty on May 21. The decision led to a steep fall in petrol and diesel prices on May 22.

Generally, the oil marketing companies (OMCs) make daily adjustments to the price of petrol and diesel based on the benchmark fuel’s average price in the global market over the previous 15 days as well as foreign exchange rates.

In the International market, oil prices extended gains on Monday as investors stood on guard for any moves against Russian oil and gas exports that might come out of a meeting of leaders of the Group of Seven (G7) nations meeting in Germany. The prospect of more supply tightness loomed over the market as western governments sought ways to cut Russia’s ability to fund its war in Ukraine, even though G7 leaders were also expected discuss a revival of the Iran nuclear deal – which might lead to more Iranian oil exports, news agency Reuters reported.

Brent crude futures edged up 22 cents, or 0.2%, to $113.34 a barrel by 0342 GMT after rebounding 2.8% on Friday. U.S. West Texas Intermediate crude was at $107.73 a barrel, up 11 cents, or 0.1%, following a 3.2% gain in the previous session, the report said.

Check out the fuel prices in the major cities of the country on Monday, June 27, 2022: