Gasoline and Diesel Prices Today: Fuel prices were unchanged for 26 consecutive days on Tuesday. Earlier on November 4, the government reduced excise taxes on gasoline and diesel to lower rates slightly from record levels.
In the national capital, gasoline is currently sold for Rs 103.97; while the diesel rate stood at Rs 86.67, according to Indian Oil Corporation. In Mumbai, gasoline is retailed at Rs 109.98 per liter; while diesel is sold at Rs 94.14 per liter.
Despite the drop in prices, gasoline prices are still above the Rs 100 per liter mark in the four subways and several cities in the country. Among the metropolitan cities, fuel prices are the highest in Mumbai. Rates 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 are the prices of gasoline and diesel in metropolitan cities:
State-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum review fuel prices daily, taking into account crude oil prices in international markets and rupee-to-dollar exchange rates. Any changes in the prices of gasoline and diesel are applied from 6 a.m. every day.
Globally, oil slashed gains on Monday night, but ended the session higher, with investors viewing Friday’s collapse in oil and financial markets as overkill in the absence of more data on the variant of the Omicron coronavirus. Brent briefly exceeded $ 77 a barrel, while US crude hit highs above $ 72. Brent crude futures were at $ 73.44 a barrel, up 72 cents or 1%, after falling $ 9.50 on Friday. U.S. West Texas Intermediate (WTI) crude gained $ 1.80, or 2.6%, to $ 69.95 a barrel.