Gasoline, Diesel Prices Today: Fuel prices remained unchanged for the eighth day in the four metros today on May 29, 2022.
Petrol price in Delhi is Rs 96.72 per litre, while diesel in the national capital is Rs 89.62 per litre.
In Mumbai, petrol costs Rs 111.35 per liter while diesel costs Rs 97.28 per liter. Of the four metro cities, fuel prices remain highest in Mumbai.
Earlier on May 22, 2022, fuel prices had fallen after Finance Minister Nirmala Sitharaman announced on the evening of May 21 a cut in excise tax on petrol by 8 per liter and 6 rupees per liter on diesel.
The excise tax cuts along with the Rs 5 cut on petrol and Rs 10 cut on diesel that were introduced from November 4, 2021, reversed the Rs 13 per liter and Rs 16 per liter tax increase on petrol and diesel, respectively, which was implemented between March 2020 and May 2020, to avoid passing on to consumers the sharp drop in international oil prices.
Fuel rates vary from state to state, depending on the occurrence of local taxes.
These are the petrol and diesel prices in metro cities:
State-run oil refineries such as Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel tariffs daily, taking into account crude oil prices in international markets and rupee-dollar exchange rates. Any changes in petrol and diesel prices will be implemented daily from 6am.
India is 85 percent dependent on imports to meet its oil needs and domestic gasoline and diesel prices are linked to international tariffs.