Petrol, Diesel Prices on Wednesday: Third day in a row the prices of petrol, and diesel were kept unchanged on Wednesday after the finance minister Nirmala Sitharaman announced a cut in excise duty on petrol by 8 per litre, and 6 rupees per liter on diesel on Saturday. The excise duty cut will translate into a reduction of Rs 9.5 a liter on petrol in Delhi and Rs 7 a liter in diesel after taking into account its impact on other levies. In Mumbai, one liter of petrol costs Rs 111.35 while diesel is retailing at Rs 97.28 per litre.
Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international prices and foreign exchange rates. Any changes in petrol and diesel prices are implemented with effect from 6 am every day. Retail petrol and diesel prices differ from state to state on account of local taxes like VAT or freight charges. After the Central government’s decision to cut excise duty, several state governments slashed VAT on petrol and diesel.
Following the central govwenment’s announcement on excise duty cut, the Kerala government announced a cut in tax on the prices of petrol and diesel by Rs 2.41 and Rs 1.36 per liter respectively. The Rajasthan government has reduced VAT on petrol by Rs 2.48 per liter and diesel by Rs 1.16 per litre. The Maharashtra government reduced VAT on one per liter petrol by Rs 2.08 and diesel by Rs 1.44 per litre. The Odisha government also reduced taxes on petrol and diesel by Rs 2.23 and Rs 1.36 a liter respectively.
Oil prices steadied on Tuesday after choppy trade as tight supply worries offset concerns over a possible recession and China’s COVID-19 curbs. Brent crude rose 14 cents to settle at $113.56 a barrel. US West Texas Intermediate (WTI) crude fell 52 cents to settle at $109.77 a barrel. Oil has surged this year with Brent hitting $139 in March, the highest since 2008, after Russia’s invasion of Ukraine exacerbated supply concerns.
Petrol, Diesel Prices on Wednesday, May 25, in Delhi, Mumbai, Chennai and Other Major Cities in India:
Delhi
Petrol: Rs 96.72 per liter
Diesel: Rs 89.62 per liter
Mumbai
Petrol: Rs 111.35 per liter
Diesel: Rs 97.28 per liter
Kolkata
Petrol: Rs 106.03 per liter
Diesel: Rs 92.76 per liter
Chennai
Petrol: Rs 102.63 per liter
Diesel: Rs 94.24 per liter
Bhopal
Petrol: Rs 108.65 per liter
Diesel: Rs 93.90 per liter
Hyderabad
Petrol: Rs 109.66 per liter
Diesel: Rs 97.82 per liter
Bengaluru
Petrol: Rs 101.94 per liter
Diesel: Rs 87.89 per liter
Guwahati
Petrol: Rs 96.01 per liter
Diesel: Rs 83.94 per liter
Lucknow
Petrol: Rs 96.57 per liter
Diesel: Rs 89.76 per liter
Gandhinagar
Petrol: Rs 96.63 per liter
Diesel: Rs 92.38 per liter
Thiruvananthapuram
Petrol: Rs 107.71 per liter
Diesel: Rs 96.52 per litre.
Read all the Latest News , Breaking News and IPL 2022 Live Updates here.
,