Fuel Prices Stationary in India

The prices of petrol and diesel in India have remained stationary for a long time for around eleven months now. The petrol price today in metro cities - Delhi, Mumbai, Kolkata and Chennai has stood static since May 21, 2022.

The petrol and diesel rates differ from one state to another owing to several reasons like tax rates imposed by the state governments such as Value Added Tax (VAT), logistics, local taxes, demand and supply mismatch and so on.

The petrol rate in Delhi was seen at Rs 96.72 per litre, Rs 106.03 per litre in Kolkata, Rs 106.31 per litre in Mumbai and Rs 102.73 per litre in Chennai.

The diesel rate in four metropolitan cities was balanced at Rs 89.62 per litre in New Delhi, Rs 92.76 per litre in Kolkata, Rs 94.27 per litre in Mumbai and Rs 94.33 per litre in Chennai.

Last year, the fuel prices were changed across the country with petrol prices down by Rs 8 per litre and diesel by Rs 6 per litre after the finance minister - Nirmala Sitharaman, trimmed down the excise duty.

Meanwhile in the international markets, the crude benchmark - Brent was trading at $74.17 per barrel, down by 1.08 per cent and West Texas Intermediate (WTI) at $70.04 a barrel, down by 1.17 per cent.

The stronger value has pulled down the crude rates in the international markets by over 1 per cent during Friday's trade session. This marks the third consecutive weekly drop in fuel prices, as the market balanced supply fears against the renewed economic worries.