Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: The rate of diesel and petrol have not been changed on 12 November 2022 (Saturday), and costs have been steady for about six months now. The petrol and diesel price in Delhi are at Rs 96.72 and Rs 89.62 per litre, respectively. In Mumbai, petrol costs Rs 106.31 per litre and diesel is at Rs 94.27 per litre. The last nation-wide update in fuel rates was on 21 May this year, when FM Nirmala Sitharaman declared a cut in excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel.
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. The last country-wide change in fuel prices came on 21 May this year, 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.
Since the excise duty cut by the central government , some states have also slashed VAT prices on fuels. The Maharashtra government cut value-added tax (VAT) on petrol by Rs 5 a litre and by Rs 3 a litre for diesel in July. Meghalaya was the last state to update the fuel prices when it increased VAT on August 24, because of which petrol now costs Rs. 96.83 per litre in Shillong and diesel is now priced at Rs. 84.72 per litre. The prices of petrol and diesel change state by state, depending upon various criteria such as Value Added Tax (VAT), freight charges, the local taxes, etc.
Petrol, diesel prices in Chennai, Kolkata, Bengaluru, Lucknow, Noida, Gurugram
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
India’s state-owned Oil Marketing Companies (OMCs) have lost an estimated $6.5 billion-$7 billion on petrol and diesel sales due to a virtual freeze in retail prices in the country between November 2021 and August 2022 and their earnings may remain weak this year as they are yet to be compensated for these losses, according to Moody’s Investors Service. Indian Oil Corporation on October 29 reported a net loss of Rs 272.35 crores in the July-September quarter, marking the second consecutive loss in earnings. Bharat Petroleum Corporation November 7, reported a net loss of Rs 338.49 crore in the second quarter of this fiscal year.