Petrol and Diesel Rate Today in Delhi, Mumbai, Chennai, Bangalore, Lucknow: The petrol and diesel rates remained unchanged on 8 November 2022, keeping the prices steady for six months now. In Delhi, petrol and diesel are retailing at Rs 96.72 and Rs 89.62 per litre, respectively. Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) update petrol and diesel rates daily at 6 AM, in line with international benchmark prices and foreign exchange rates.
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, on Monday, November 7, reported a net loss of Rs 338.49 crore in the second quarter of this fiscal year.
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
The last country-wide change in fuel prices came on 21 May 2022, when Union 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 central government excise duty cut, some states have also reduced VAT rates on auto fuels. Meghalaya was the last to revise the fuel rates when it increased VAT on 24 August 2022, 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 Maharashtra government announced a cut in value-added tax (VAT) on petrol by Rs 5 per litre and by Rs 3 per litre for diesel in July.