Petrol and diesel prices: Fuel rates remained stable in metro cities today
Petrol, Diesel Prices Today: Fuel prices remained unchanged in metro cities for the 113th day on Saturday, February 26, 2022, despite a sharp rise in crude oil prices as Ukraine-Russia conflict escalated. This is the longest period for which fuel prices have remained stable since the daily revision of prices began in June 2017.
The government had reduced excise duty on petrol and diesel prices on November 4, 2021, thereby reducing the rates to some extent. Excise duty on petrol was reduced by Rs 5 per liter while on diesel by Rs 10 per liter.
Later in December 2021, the Delhi government reduced the value-added tax on petrol from 30 per cent to 19.40 per cent. With this, petrol prices in the national capital were reduced by Rs 8.56 per litre.
In Delhi, a liter of petrol costs Rs 95.41, while diesel costs Rs 86.67 per litre. Petrol in Mumbai is being sold at Rs 109.98 per liter, while diesel is being sold at Rs 94.14 per litre. Among metro cities, fuel rates are still the highest in Mumbai. Fuel prices vary from state to state due to Value Added Tax or VAT. ,as well Reading: How to check latest petrol and diesel rates in your city,
Petrol and diesel prices in metro cities are as follows:
State-run oil refiners like Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel rates on a daily basis, taking into account crude oil prices and rupee-dollar exchange rates in international markets. Any change in the prices of petrol and diesel is effective from 6 am every day.
India is 85 per cent dependent on imports to meet its oil needs and domestic petrol and diesel prices are linked to international rates. But despite the rise in international oil prices for the last three months, there has been no change in the rates of petrol and diesel. With assembly elections still underway in a politically important state like Uttar Pradesh, prices have remained stable.
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