18 January 2023: Fuel rates constant in India; Crude oil dips at 0.5 per cent in global markets

18 January 2023: The fuel rates held steady across the country on 18 January 2023, i.e. Wednesday.

Union FM Nirmala Sitharaman reduced the excise duty on petrol by Rs. 8 per litre and on diesel by Rs. 6 per litre across the entire country, last year. Despite the unchanged fuel rates, crude oil has seen fluctuations. Brent crude LCOc1 futures were down 38 cents or 0.5 per cent at $84.08 at 0114 GMT, extending a 1% loss in the previous session.

In a media report, at least four Chinese-owned supertankers were shipping Russian Urals crude to China and a fifth supertanker was shipping crude to India, with the oil available at a discount following the imposition of an oil price cap by the Group of Seven (G7) nations.

A rise in the dollar off seven-month lows also dragged on oil prices, as a stronger greenback makes oil more expensive for those holding other currencies.

Fuel Rates

Amid the constant fuel prices, in cities like Kolkata, the cost of petrol is Rs 106.03 and that of diesel is Rs 92.76 a litre, respectively. Petrol costs Rs. 102.63 per litre in Chennai while diesel costs Rs. 94.24. In Bangalore, it’s Rs. 101.94 for a litre of petrol and Rs. 87.89 for a litre of diesel.

Mumbai and the national capital Delhi have Petrol rates at Rs 106.31 per litre and Rs 96.72 per litre respectively. Diesel costs about Rs 94.27 per litre and Rs 89.62 per litre respectively.

Chennai: Petrol rate: Rs 102.63 per litre, Diesel rate: Rs 94.24 per litre

Kolkata: Petrol rate today: Rs 106.03 per litre, Diesel rate: Rs 92.76 per litre

Bangalore: 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

On August 24, Meghalaya increased the VAT on the fuel price resulting in petrol costing Rs 96.83 per litre in Shillong, whereas, diesel is at Rs 84.72 per litre. The city has been the last to change the fuel rates.

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