Gasoline, Diesel Prices Today: Fuel prices remained unchanged in metro cities on Monday for the fifth consecutive day, after rising 14 times in 20 days. In Delhi, a liter of petrol costs Rs 105.41 while diesel is sold for Rs 96.67 per litre.
In Mumbai, petrol is sold for Rs 120.51 per litre, while diesel is sold for Rs 104.77 per litre. Fuel prices are highest in Mumbai of all four metro cities. Prices vary from country to country due to value added tax (VAT).
Fuel prices remained stable for more than four months despite the spike in crude oil prices. The rate review had ended on March 22. In total, petrol and diesel prices have risen by Rs 10 per liter respectively, after 14 tariff revisions.
†Also Read: How to check the latest petrol and diesel rates in your city).
These are the petrol and diesel prices in metro cities:
Moody’s Investors Services had stated that state retailers collectively lost about $2.25 billion (Rs 19,000 crore) in revenue from holding down gasoline and diesel prices during the election period.
The tariffs were put on hold during the parliamentary elections in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur.
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 exchange rates of the rupee and dollar. 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.
Globally, oil prices fell $2 a barrel today, following a second consecutive weekly decline after world consumers announced plans to release record volumes of crude and other products from strategic stockpiles and as lockdowns in China continued. Brent oil fell $2.04 or 2 percent to $100.74 a barrel, while US West Texas Intermediate crude fell $1.94 or 2 percent to $96.32.