Oil prices Hold Steady

Oil prices in the country have not been changed on 19 December 2022 and costs have been steady for about six months now.

The most recent nationwide adjustment to fuel prices took place on May 21 of this year when Finance Minister Nirmala Sitharaman cut the excise duty on gasoline by Rs 8 per litre and on diesel by Rs 6 per litre.

Diesel and gasoline are both priced at Rs 94.27 a litre in Mumbai. In Delhi, the cost of gasoline is Rs 96.72 and the cost of diesel is Rs 89.62 a litre, respectively.

Every day at 6 am, new prices for gasoline and diesel go into effect.

The pricing of public sector OMCs like (BPCL), (IOCL), and (HPCL)  adjust daily in accordance with foreign exchange rates and benchmark prices.

The prices of petrol and diesel change state by state, depending upon various criteria such as (VAT), freight charges, the local taxes, etc.

Since the cut of excise duty by the central government, some states have also reduced 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 prices at Rs. 84.72 per litre.

Also Read: Petrol Diesel Price: Has There Been A Change In The Price Of Petrol And Diesel Today? Know New Rates

Oil prices in Chennai, Kolkata, Bengaluru, Lucknow, Noida, Gurugram

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
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