Petrol, Diesel Price July 23, 2022: Latest Fuel Prices Today

As the prices of crude oil in international markets witnessing a decline, experts feel that there might be a reduction in the prices of fuel in India. The prices of petrol and diesel continue to remain constant for more than two months now. WTI crude has now slumped below $100 per barrel. According to oilprice.com the price of WTI crude is $94.70 per barrel while Brent crude price is $103 per barrel.

The Oil Marketing Companies release the new rate list of petrol and diesel everyday and as per the latest list the price of both the fuel remain steady as on July 23.

In Delhi, petrol is selling at Rs 96.72 per litre while the diesel price is recorded at Rs 89.62 per litre. Meanwhile, in Mumbai, the price of one litre of petrol is recorded at Rs 106.31 per litre and diesel price is available at Rs 94.27 per litre.

Prices of both the fuel petrol and diesel have been same for almost two months ever since finance minister Nirmala Sitharaman declared a cut in excise duty on petrol and diesel. Nirmala Sitharaman declared an excuse duty cut on petrol by Rs 8 per litre and Rs 6 per litre on diesel earlier this year on May 21.

The prices of petrol and diesel differ from state to state as a result of implementation of local taxes such as VAT and freight charges.

It is important to note that public sector oil marketing companies that may include Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL), and Hindustan Petroleum Corporation Ltd (HPCL) revise prices of fuel everyday keeping in line with benchmark global prices and foreign exchange rates. If any changes in the prices of petrol and diesel occur, it is implemented at 6 AM everyday.

Below are the price of petrol and diesel in these cities:

Chennai: Petrol price: Rs 102.63/litre, Diesel price: Rs 94.24/litre

Bengaluru: Petrol price: Rs 101.94/litre, Diesel price: Rs 87.89/litre

Lucknow: Petrol: Rs 96.57/litre, Diesel: Rs 89.76/litre

Noida: Petrol: Rs 96.57/litre, Diesel: Rs 89.96/litre

Gurugram: Petrol: Rs 97.18/litre, Diesel: Rs 90.05/litre

Chandigarh: Petrol: Rs 96.20/litre, Diesel: Rs 84.26/litre