Petrol, Diesel Prices Remain Steady Across Metros. See Rates

Petrol, Diesel Prices Today: Fuel prices remained unchanged for 91 days in a row across metro cities on Friday, February 4, 2022. This is the longest period when the prices have remained unchanged, ever since the daily revision of prices began in June 2017.

Before this, there was an 82-day break in rate revision between March 17, 2020 and June 6, 2020, when the national lockdown was in place. The current status quo in petrol and diesel prices has also continued as assembly elections in several high profile states like Uttar Pradesh and Punjab are round the corner.

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:

Further, diesel in most parts of the country may cost Rs 2 per litre more from October 1 after the Centre levied additional excise duty on fuel sold without blending it with ethanol or biodiesel in Union Budget 2021-22.

Also, Oil Minister Hardeep Singh Puri said India has achieved 9 per cent ethanol blending in petrol and is confident of meeting the 20 per cent target by 2025. Currently, 10 per cent ethanol, extracted from sugarcane or surplus foodgrain, is required to be blended or mixed in petrol (meaning 10 per cent of ethanol mixed with 90 per cent of petrol) with a view to cutting oil import dependence and provide farmers with an additional source of income.

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.

Globally, oil prices climbed, extending sharp gains in the previous session sparked by persistent supply concerns. Brent crude was up 16 cents, or 0.2 per cent, to $91.27 a barrel, after rising $1.16 on Thursday. U.S. West Texas Intermediate crude rose 28 cents, or 0.3 per cent, to $90.55 a barrel, having gained $2.01 cents the previous day to settle above $90 for the first time since October 6, 2014.