Petrol, Diesel Prices Remain Steady Across Metros. See Rates

Petrol and diesel prices: Fuel rates remained steady across metro cities today
Petrol and diesel prices: Fuel rates remained steady across metro cities today

Petrol, Diesel Prices Today: Fuel prices remained unchanged across metro cities on Saturday, February 26, 2022 for the 113th day, despite crude oil prices rising sharply as the Ukraine-Russia conflict escalated. This is the longest duration for which fuel prices have remained static ever since the daily revision of prices began in June 2017.

Government on November 4, 2021, had slashed excise duty on petrol and diesel prices which had brought down the rates to some extent. Excise duty on petrol was reduced by Rs 5 per litre while on diesel it was cut down by Rs 10 a litre.

Later in December 2021, the Delhi government had 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 slashed by Rs 8.56 per litre.

A litre of petrol costs Rs 95.41 in Delhi, while diesel rates stand at Rs 86.67 per litre. In Mumbai, petrol is retailed at Rs 109.98 per litre, while diesel is being sold at Rs 94.14 per litre. Among the metro cities, fuel rates are still the highest in Mumbai. Fuel prices vary across the states due to value-added tax or VAT. (Also Read: How To Check Latest Petrol And Diesel Rates In Your City).

Here are the petrol and diesel price across the metro cities:

City Petrol Diesel
Delhi 95.41 86.67
Mumbai 109.98 94.14
Chennai 101.40 91.43
Kolkata 104.67 89.79
Source: Indian Oil

State-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum revise the fuel rates on a daily basis, by taking into account the crude oil prices in the international markets, and the rupee-dollar exchange rates. Any changes in petrol and diesel prices are implemented with effect from 6 am every day.

India is 85 per cent dependent on imports to meet its oil needs and, the domestic petrol and diesel prices are linked to international rates. But for the last over three months, despite a spurt in international oil prices, petrol and diesel rates have not been changed. Also with assembly elections in politically crucial state like Uttar Pradesh still going on, the prices have remained static.