Petrol and Diesel Rates on 18th August in Delhi, Mumbai, and More

Petrol and Diesel Rates on 18th August in Delhi, Mumbai, and More
Source: Freepik

Petrol and Diesel Price Update for Today in India: As of Friday, in Delhi, the cost of petrol stands at Rs 96.72, while diesel is being retailed at Rs 89.62 per litre. Today’s Petrol and Diesel Rates in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: On Friday, August 18, petrol and diesel prices remained relatively stable across major cities including New Delhi, Kolkata, Mumbai, and Chennai. The rates for both petrol and diesel have maintained a consistent trend over the past few months. Nevertheless, specific cities witness daily fluctuations in fuel prices.

The pricing of petrol and diesel varies from state to state, influenced by factors such as Value Added Tax (VAT), transportation charges, local levies, etc. The most recent nationwide adjustment in fuel prices occurred on May 21 of the previous year, when Finance Minister Nirmala Sitharaman reduced excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per litre. Following this excise duty cut by the central government in May 2022, certain states have also decreased VAT rates on fuels, whereas others have imposed additional charges on petrol and diesel.

Earlier this month, the Congress party accused the central government of benefiting from excessive taxes imposed on petrol and diesel. They called on the Narendra Modi administration to pass on the advantages of reduced global crude oil prices to the public, aiming to ease the burden of escalating inflation. Jairam Ramesh, Congress’s general secretary responsible for communications, conveyed in Hindi that the government possesses the capacity to offer relief by decreasing petrol and diesel prices by Rs 25-30 per litre, similar to tax levels during the previous UPA government, thereby putting a halt to the ongoing profit accumulation.

At present, in Delhi, the per liter price for petrol stands at Rs 96.72, while diesel is available at Rs 89.62 per litre. In Mumbai, petrol commands a higher rate of Rs 106.31 per litre, accompanied by diesel at Rs 94.27 per litre. In Kolkata, the cost of petrol reaches Rs 106.31 per litre, while diesel is priced at Rs 92.76 per litre. In Chennai, petrol is accessible at Rs 102.63 per litre, with diesel obtainable at Rs 94.24 per litre.

Below are the fuel prices in other urban centers:

CityPetrol (Rs/litre)Diesel (Rs/litre)
New Delhi96.7289.62
Petrol and Diesel Rates

Public sector Oil Marketing Companies (OMCs) including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL), and Hindustan Petroleum Corporation Ltd (HPCL) adjust their petrol and diesel prices daily in line with international benchmark prices and foreign exchange rates. Modifications to petrol and diesel prices are implemented every day at 6 am. “Oil companies will consider the possibility of reducing petrol and diesel prices if the global crude cost remains stable and these companies perform well in the upcoming quarter,” stated Petroleum Minister Hardeep Singh Puri a few months ago.

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