Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Petrol, diesel prices remained unchanged in major cities across the country on Friday, 20 January 2023. In Delhi, petrol price is retailing at Rs 96.72 per litre, while diesel in the National Capital is priced at Rs 89.62 per litre. In Mumbai, a litre of petrol costs Rs 106.31, and diesel is selling at Rs 94.27 per litre. Fuel prices have remained stagnant for more than seven months now. 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, some states have also reduced VAT prices on fuels. Himachal Pradesh government on January 8 increased value-added tax (VAT) on diesel by Rs 3 per litre. The hike varies as per different fuel stations. On the other hand, the govt slashed taxes on petrol by 0.55 paise. After the revision, the VAT on diesel, will now go up to Rs 7.40 per litre from Rs 4.40 per litre, pushing prices in the state to Rs 86 per litre.
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
Lucknow: Petrol rate: Rs 96.57 per litre, Diesel rate: Rs 89.76 per litre
Noida: Petrol rate: Rs 96.79 per litre, Diesel rate: Rs 89.96 per litre
Gurugram: Petrol rate: Rs 97.18 per litre, Diesel rate: Rs 90.05 per litre
Chandigarh: Petrol rate: Rs 96.20 per litre, Diesel rate: Rs 84.26 per litre
Mumbai: Petrol rate: Rs 106.31 per litre, Diesel rate: Rs 94.27 per litre
Delhi: Petrol rate: Rs 96.72 per litre, Diesel rate: Rs 89.62 per litre
The prices of petrol and diesel vary from state to state and sometimes even city to city, depending upon various criteria such as Value Added Tax (VAT), freight charges, local taxes, etc. Public sector 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 prices rose on Friday on optimism that the US Federal Reserve will end its tightening cycle, buoying the economy and boosting fuel demand. Brent futures for March delivery gained 48 cents, or 0.6%, to $86.64 a barrel by 0113 GMT, while U.S. crude advanced 54 cents to $80.87 per barrel, a 0.7% gain. The benchmarks were on track for a second straight week of gains. Both closed 1% higher on Thursday, near their highest closing levels since 1 December.