Petrol and diesel prices: Fuel prices remained stable in metropolitan cities today
Gasoline, Diesel Prices Today: Fuel prices remained unchanged for the 114th day in metro cities on Sunday, February 27, 2022, despite crude oil prices soaring as the conflict between Ukraine and Russia escalated. This is the longest period in which fuel prices have remained stable since the daily price review began in June 2017.
The government had cut excise duties on petrol and diesel prices on November 4, 2021, bringing the rates down slightly. The excise duty on petrol was reduced by Rs 5 per liter while it was reduced on diesel by Rs 10 per litre.
Later in December 2021, the Delhi government had cut the VAT on petrol from 30 percent to 19.40 percent. This cut petrol prices in the national capital by Rs 8.56 per litre.
A liter of petrol costs Rs 95.41 in Delhi while diesel prices are Rs 86.67 per litre. In Mumbai, petrol is sold for Rs 109.98 per litre, while diesel is sold for Rs 94.14 per litre. Of the metro cities, fuel rates are still the highest in Mumbai. Fuel prices vary from country to country due to value added tax or VAT. †Also Read: How to check the latest petrol and diesel rates in your city).
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 the 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. But in the past three months, despite a spurt in international oil prices, petrol and diesel rates have not changed. With parliamentary elections still underway in a politically crucial state like Uttar Pradesh, prices have remained stable.
