Petrol and diesel price today December 22: Rates kept unchanged across country; check prices in Delhi, Mumbai

Petrol and Diesel Price Today in India: Petrol and Diesel Rate on December 22 were left unchanged again, leaving petrol price in Mumbai near Rs 110 per litre.

Petrol and Diesel Price in India, Petrol and Diesel Rate Today in India
Petrol and diesel price today. (Image: REUTERS)

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: The price of Petrol, diesel continued to remain unchanged on Wednesday (22 December) across various cities in the country. Currently, petrol rate in Delhi is retailing at Rs 95.41 per litre while diesel in the national capital is priced at Rs 86.67 per litre. In Mumbai, a litre of petrol and diesel costs Rs 109.98 and Rs 94.14, respectively. Fuel prices have been stable since the Centre cut excise duty to bring down retail rates from record highs. It has been more than a month and a half now since the price of petrol and diesel saw any changes, except in Delhi where petrol prices fell on December 1 after the local government reduced the Value-Added Tax (VAT) on petrol from 30% to 19.40%.

Public sector oil marketing companies (OMCs) 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 benchmark international price and foreign exchange rates. OMCs have neither raised nor reduced petrol and diesel rates in the last one-and-a-half months even as international oil prices remained volatile with benchmark Brent crude plunging below $70 a barrel on November 30 from $84.78 on November 9. Any changes in petrol and diesel prices are implemented with effect from 6 am every day. Retail petrol, diesel prices differ from state to state on account of local taxes like VAT or freight charges.

Petrol, diesel prices in Chennai, Kolkata, Bengaluru, Lucknow, Noida, Gurugram
Mumbai: Petrol price– Rs 109.98 per litre, Diesel price – Rs 94.14 per litre
Delhi: Petrol price – Rs 95.41 per litre, Diesel price – Rs 86.67 per litre
Chennai: Petrol price – Rs 101.40 per litre, Diesel price – Rs 91.43 per litre
Kolkata: Petrol price – Rs 104.67 per litre, Diesel price – Rs 89.79 per litre
Hyderabad: Petrol price – Rs 108.20 per litre, Diesel price – Rs 94.62 per litre
Bengaluru: Petrol price – Rs 100.58 per litre, Diesel price – Rs 85.01 per litre
Lucknow: Petrol price – Rs 95.02 per litre, Diesel price – Rs 86.56 per litre
Thiruvananthapuram: Petrol price – Rs 106.65 per litre, Diesel price – Rs 93.47 per litre
Noida: Petrol price – Rs 95.51 per litre, Diesel price – Rs 87.01 per litre
Gurugram: Petrol price- Rs 95.90 per litre, Diesel price- Rs 87.11 per litre

The fuel prices across key cities were collectively revised on November 4 after the Central government cut excise duties on petrol and diesel to bring down their retail rates from their record highs. The government reduced excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre on November 3 to give relief to consumers from record-high retail fuel prices. The centre also urged states to cut VAT on the two auto fuels, following which several states announced VAT cuts. In a cabinet meeting chaired by Delhi CM Arvind Kejriwal on December 1, a decision was taken to reduce the Value-Added Tax (VAT) on petrol prices to 19.40%, bringing down the price by Rs 8.56 per litre.

Soon, there might be more relief in terms of petrol prices as the Modi government has reduced the GST rate on ethanol from 18% to 5% under the Ethanol Mixed Petrol (EBP) program. Under the EBP program, ethanol is mixed in petrol. The information was shared by Minister of State for Petrol and Natural Gas Rameshwar Teli in Lok Sabha recently.

Crude Oil moves up 

Globally, crude oil prices rose on Wednesday, though investors remained worried about the rapid spread of the Omicron coronavirus variant, prompting countries to consider more restrictions potentially denting fuel demand. Brent crude futures rose 0.7 per cent, to $74.49 a barrel, while U.S. West Texas Intermediate (WTI) crude futures rose 0.8 per cent, to $71.71 a barrel.

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