Petrol, Diesel Prices Today: Petrol and diesel prices were kept unchanged on Saturday, December 18. Earlier, the Delhi government had reduced value-added tax (VAT) on petrol from 30 per cent to 19.40 per cent. As a result, petrol prices in the national capital were slashed by Rs 8.56 per litre. One litre of petrol now costs Rs 95.41 from Rs 103.97 earlier, however, diesel prices were kept unchanged at Rs 86.67 in Delhi.
In Mumbai, petrol is retailed at Rs 109.98 per litre, while diesel is being sold at Rs 94.14 per litre. Among the metro cities, fuel rates are still the highest in Mumbai. The rates vary across the states due to VAT. (Also Read: How To Check Latest Petrol And Diesel Rates In Your City).
Here are the petrol and diesel price across the metro cities:
State-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum revise the fuel rates on a daily basis, by taking into account the crude oil prices in the international markets, and the rupee-dollar exchange rates. Any changes in petrol and diesel prices are implemented with effect from 6 am every day.
Globally, oil prices fell on Friday and were also down on the week as surging cases of the Omicron coronavirus variant raised fears that new restrictions may hit fuel demand.
Brent crude futures settled down $1.50, or two per cent, at $73.52 a barrel, while U.S. West Texas Intermediate (WTI) crude dropped $1.52, or 2.1 per cent, to settle at $70.86 a barrel. Brent was down 2.6 per cent on the week and WTI fell 1.3 per cent.