Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Petrol and diesel prices were constant on Tuesday, 16 May across New Delhi, Kolkata, Mumbai, and Chennai. Petrol rates and diesel rates have been steady over the last eleven months. However, individual cities see fluctuations in their prices everyday. The prices of petrol and diesel change state by state, depending upon various criteria such as Value Added Tax (VAT), freight charges, local taxes, etc.
The last country-wide change in fuel rates was on 21 May last year, when Finance Minister Nirmala Sitharaman slashed excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel. Since the cut of excise duty by the central government in May 2022, some states have also reduced VAT prices on fuels, while some have imposed cess on petrol and diesel.
The Punjab government decided to impose a cess of 90 paise per litre on petrol and diesel in a meeting of the state cabinet. Kerala Finance Minister KN Balagopal also announced a cess on petrol, diesel and liquor in the second full budget of the LDF government. A social security cess of Rs 2 per litre will be slapped on petrol and diesel.
Oil prices rose for a second day early on Tuesday, as U.S. plans to purchase oil for the Strategic Petroleum Reserve (SPR) lent support while raging wildfires in Canada fuelled supply worries. Brent crude futures rose 31 cents, or 0.4%, to $75.54 a barrel by 0043 GMT, while U.S. West Texas Intermediate crude was at $71.38 a barrel, up 27 cents, or 0.4%. Both benchmarks rose more than 1% on Monday, reversing a 3-session losing streak.
Petrol, diesel prices in Chennai, Kolkata, Bengaluru, Lucknow, Noida, Gurugram
- Bengaluru: Petrol rate: Rs 101.94 per litre, Diesel rate: Rs 87.89 per litre
- Chandigarh: Petrol rate: Rs 96.20 per litre, Diesel rate: Rs 84.26 per litre
- Chennai: Petrol rate: Rs 102.73 per litre, Diesel rate: Rs 94.33 per litre
- Gurugram: Petrol rate: Rs 97.04 per litre, Diesel rate: Rs 89.91 per litre
- Kolkata: Petrol rate: Rs 106.03 per litre, Diesel rate: Rs 92.76 per litre
- Lucknow: Petrol rate: Rs 96.57 per litre, Diesel rate: Rs 89.76 per litre
- Mumbai: Petrol rate: Rs 106.31 per litre, Diesel rate: Rs 94.27 per litre
- New Delhi: Petrol rate: Rs 96.72 per litre, Diesel rate: Rs 89.62 per litre
- Noida: Petrol rate: Rs 96.65 per litre, Diesel rate: Rs 89.82 per litre
Public sector Oil Marketing Companies (OMCs) including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise their prices daily in line with international benchmark prices and forex rates. Any changes in petrol and diesel costs are implemented from 6 am every day. Oil Minister Hardeep Singh Puri recently asked OMCs to cut the retail prices of petrol and diesel if the crude oil prices in the international market come down and also if OMCs under recovery come down.