Gasoline, Diesel Prices Today: Fuel prices remained unchanged in all metro cities on Friday, February 11, 2022 for the 98th consecutive day. This is the longest period in which prices have remained unchanged since the daily price review began in June 2017.
Previously, there was an 82-day hiatus in the tariff review between March 17, 2020 and June 6, 2020, when the national lockdown was in effect.
In December 2021, the Delhi government had cut 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 tariffs have not changed in the run-up to elections in crucial states like Uttar Pradesh and Punjab.
Global oil prices fell rapidly as high inflation in the US fueled concerns about aggressive rate hikes and as investors await the outcome of US-Iran talks that could lead to increased global crude oil supplies. Brent oil futures fell 40 cents, or 0.4 percent, to $91.01 a barrel, while US West Texas Intermediate crude fell 25 cents, or 0.3 percent, to $89.63 a barrel.