Check Petrol And Diesel Prices Today, After Cuts In Excise Seen Last Month

Excise on petrol and diesel were cut last month, following a surge in retail prices of petrol and diesel. For the last 29-days, we have seen petrol and diesel prices remaining static. Take a look at the latest petrol and diesel prices in key Indian cities as on June 20, 2022.

City	Petrol	Diesel
Mumbai	111.35	97.28
Delhi	96.72	89.62
Chennai	102.73	94.33
Kolkata	106.03	92.76
Bangalore	101.94	87.89
Hyderabad	109.66	97.82
Pune	111.21	95.69
Nagpur	111.08	95.59
Mysore	101.46	87.45

Crude prices fall

Crude prices have now fallen from levels of 120 dollars a barrel, to levels of 110 dollars a barrel. Consumers have something to cheer about on rising interest rates, which could lead to a slowdown in demand for oil as there is a global economic slowdown. This is one positive that could happen through rising interest rates. In India, petrol and diesel prices have not been changed for the last 29 days and just a couple of days back, oil marketing companies were reportedly losing a lot on petrol and diesel. However, with crude prices now falling, petrol and diesel prices would now see some fall, if crude priced dip below $100 a barrel.

Russian crude worries to be offset by economic slowdown

Oil from Russia, the world's second-largest exporter, remains out of reach to most countries because of Western sanctions over the war in Ukraine.

The impact has been partly mitigated by the release of strategic petroleum reserves, led by the United States. Apart from this, OPEC countries are also believed to be increasing production, which should mean more supplies and reduce prices of petrol and diesel.