Gasoline and diesel prices today: Fuel prices remained unchanged in metropolitan cities on Sunday, March 13, 2022. Prices have held steady for more than four months despite international crude oil prices rising to over $100 a barrel, with major crude producers s ‘being committed to filling the supply gap due to the escalation. Russian-Ukrainian conflict.
Brent crude oil prices are at $112 a barrel amid the escalating Russian-Ukrainian war.
Meanwhile, this is the longest time rates have been firm in India, since the start of the daily price review in June 2017. ended in Uttar Pradesh, Uttarakhand, Punjab, Goa and Manipur.
The central government had reduced excise duties on November 4, 2021 to relieve prices which had reached record highs. The government had reduced duties on petrol by Rs 5 per liter and on diesel by Rs 10 per litre, resulting in a substantial reduction in fuel prices.
Later in December 2021, the Delhi government reduced the value added tax on gasoline from 30% to 19.40%. With this, petrol prices in the nation’s capital have been reduced by Rs 8.56 per litre.
A liter of petrol costs Rs 95.41 in Delhi, while diesel prices stand at Rs 86.67 per litre. In Mumbai, petrol retails at Rs 109.98 per litre, while diesel retails at Rs 94.14 per litre. Among metropolitan cities, fuel prices are always the highest in Mumbai. Fuel prices vary from state to state due to value added tax or VAT. (Also Read: How to check the latest gasoline and diesel prices in your city).
Here is the price of gasoline and diesel in metropolitan cities:
State-run oil refiners such as Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices daily, taking into account crude oil prices in international markets and rupee-dollar exchange rates. Any changes to gasoline and diesel prices are implemented with effect from 6 a.m. daily.
India is 85% dependent on imports to meet its oil needs and domestic gasoline and diesel prices are tied to international rates. But for four months, despite a surge in international oil prices, gasoline and diesel prices have not changed.
The Russian-Ukrainian war has had a major impact on crude oil prices across the world and with that in mind, fuel prices could see a big increase in the coming days.