Petrol, Diesel Price July 7, 2022: Check New Fuel Rates Here

The prices of petrol and diesel on July7, 2022 continue to remain steady as Oil Marketing Companies (OMCs) decide to keep the price unchanged. If you are in Delhi, you will have to pay Rs 96.72 for per litre of petrol while the price of diesel is Rs 89.62 per litre. In Mumbai, the petrol is selling at Rs 111.35 per litre and diesel price is available at Rs 97.28 per litre.

Earlier this month on July, Central Government levied an export tax on petrol, diesel, and ATF. The government had proposed a Rs 6 per litre tax on the export of petrol and ATF and Rs 13 per litre tax on the export of diesel. The move led to decline in the prices of leading stocks like ONGC, Oil India, Vedanta, etc.

Prices of both the fuel petrol and diesel have been same for more than a month 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 vary from state to state as a result of implementation of local taxes such as VAT and freight charges. Despite the high crude oil prices, petrol and diesel rates remain the same.

It is worth noting 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