Petrol, Diesel Price Today, 9 Aug 2022: Fuel prices remain unchanged; check rates in Delhi, Noida, Mumbai

Petrol and Diesel Price Today in India: The price of petrol and diesel on Tuesday, 9 August 2022, was left untouched by OMCs once again

Petrol and Diesel Price in India, Petrol and Diesel Rate Today in India
It may be noted that fuel prices were cut in Maharashtra when the state government announced a cut in value-added tax (VAT) on petrol by Rs 5 a litre and by Rs 3 a litre for diesel earlier last month.

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: The price of petrol and diesel on Tuesday, 9 August 2022, was left untouched by OMCs once again. Prices have held steady for 76 days now across the country, except in Maharashtra. Petrol price in Delhi today stands at Rs 96.72 a litre as against Rs 105.41 a litre prior to the cut in excise duty, while diesel will cost Rs 89.62 a litre as opposed to Rs 96.67. In Mumbai, one litre of petrol today costs Rs 106.31 against Rs 111.35 earlier while diesel retails at Rs 94.27 down from Rs 97.28 per litre earlier.

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It may be noted that fuel prices were cut in Maharashtra when the state government announced a cut in value-added tax (VAT) on petrol by Rs 5 a litre and by Rs 3 a litre for diesel earlier last month. The cut in VAT is likely to cost Maharashtra’s state exchequer Rs 6,000 crore on an annual basis. For the rest of the country, prices have been steady since May 21 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. 

Public sector 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 international benchmark prices and foreign exchange rates. Any changes in petrol and diesel prices are implemented from 6 am every day. Retail petrol and diesel prices differ from state to state because of local taxes like VAT or freight charges. On August 2, the government cut tax on diesel export to Rs 5 per litre and scrapped tax on ATF. However, it raised the additional excise duty (cess) on petroleum crude marginally from Rs 17,000 to Rs 17,750 per tonne. Tax on petrol export was removed earlier last month. 

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Petrol, diesel prices in Chennai, Kolkata, Bengaluru, Lucknow, Noida, Gurugram

Mumbai: Petrol price: Rs 106.31 per litre, Diesel price: 94.27 per litre

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

Oil prices retreats on chance of Iran supply boost

Oil prices dipped in early trade on Tuesday on the latest progress in last-ditch talks to revive the 2015 Iran nuclear accord, which would clear the way to boost its crude exports in a tight market.

Brent crude futures fell 27 cents, or 0.3%, to $96.38 a barrel at 0027 GMT, paring a 1.8% gain from the previous session, according to Reuters. U.S. West Texas Intermediate (WTI) crude futures declined 24 cents, or 0.3%, to $90.52 a barrel, after climbing 2% in the previous session. “The spectre of a U.S.-Iran nuclear deal continues to hover over the market,” ANZ Research analysts said in a note.

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