Petrol and diesel price August 16: Fuel cost unchanged; Check prices in Delhi, Mumbai, other cities here

Petrol and Diesel Price Today in India: Petrol and Diesel Rate on August 16 were left unchanged even as crude oil prices moved lower.

Petrol and diesel price August 16: Fuel cost unchanged; Check prices in Delhi, Mumbai, other cities here
Crude oil prices traded weak on Tuesday morning. (Image: REUTERS)

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: The price of petrol and diesel has been left unchanged for the 83rd day by OMCs on August 16. The most recent price reduction had came in Maharashtra when the state government announced a cut in value-added tax (VAT) on petrol by Rs 5 a litre and by Rs 3 a litre for diesel earlier last month. The cut in VAT is likely to cost Maharashtra’s state exchequer Rs 6,000 crore on an annual basis. For the rest of the country, prices have been steady since May 21 when Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by Rs 8 per litre, and Rs 6 per litre on diesel. 

Petrol price in Delhi today stands at Rs 96.72 a litre as against Rs 105.41 a litre prior to the cut in excise duty, while diesel will cost Rs 89.62 a litre as opposed to Rs 96.67. In Mumbai, one litre of petrol today costs Rs 106.31 against Rs 111.35 earlier while diesel retails at Rs 94.27 down from Rs 97.28 per litre earlier.

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Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with international benchmark prices and foreign exchange rates. Any changes in petrol and diesel prices are implemented from 6 am every day. Retail petrol and diesel prices differ from state to state because of local taxes like VAT or freight charges. On August 2, the government cut tax on diesel export to Rs 5 per litre and scrapped tax on ATF. However, it raised the additional excise duty (cess) on petroleum crude marginally from Rs 17,000 to Rs 17,750 per tonne. Tax on petrol export was removed earlier last month. 

Petrol, diesel prices in Chennai, Kolkata, Bengaluru, Lucknow, Noida, Gurugram

Mumbai: Petrol price: Rs 106.31 per litre, Diesel price: 94.27 per litre

Delhi: Petrol price: Rs 96.72 per litre, Diesel price: Rs 89.62 per litre

Chennai: Petrol price: Rs 102.63 per litre, Diesel price: Rs 94.24 per litre

Kolkata: Petrol price: Rs 106.03 per litre, Diesel price: Rs 92.76 per litre

Bengaluru: Petrol: Rs 101.94 per litre, Diesel: Rs 87.89 per litre

Lucknow: Petrol: Rs 96.57 per litre, Diesel: Rs 89.76 per litre

Noida: Petrol: Rs 96.79 per litre, Diesel: Rs 89.96 per litre

Gurugram: Petrol: Rs 97.18 per litre, Diesel: Rs 90.05 per litre

Chandigarh: Petrol: Rs 96.20 per litre, Diesel: Rs 84.26 per litre

Also Read: MCX crude oil outlook: Prices to find support at Rs 6850/bbl; aggressive traders can go long via call option

Crude Oil price

Crude oil prices were down on Tuesday morning as economic data from China renewed fears of global recession. On Tuesday morning, Brent crude futures were down 90 cents to trade at $94.20 a barrel. WTI Crude was at $88.60 a barrel, down 81 cents, according to Reuters. 

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