Petrol-diesel rate, 8 July 2023: It is expected that in the midst of inflation, there can be a rapid reduction in the price of petrol. Indian oil marketing companies have registered huge profits in the third quarter of April-June.
Following global cues, Indian oil companies release new rates of petrol and diesel every day. Please note that rates are not released on Saturdays and Sundays. Indian Oil has kept the fuel price stable for the last one year. The rate of crude oil has fallen in the market.
This will give a lot of satisfaction to the public who spend a lot on fuel every day. Significantly, companies in India release new rates of oil every day except Saturday and Sunday. It’s been over a year since the companies have held the price steady.
People have got relief in the era of inflation, where the prices of every commodity are increasing, the prices of petrol and diesel are stable. Public sector oil marketing companies (OMCs) such as Bharat Petroleum Corporation Limited (BPCL), Indian Oil Corporation Limited (IOCL), and Hindustan Petroleum Corporation Limited (HPCL) release their prices on a daily basis as per the global benchmark prices.
The price of crude oil has declined in the world market. WTI crude has fallen to $78 per barrel, while Brent crude is now at $85 per barrel.
Petrol costs Rs 106.31 per liter in Mumbai, Rs 106.03 in Kolkata, Rs 96.72 in New Delhi and Rs 102.63 in Chennai on Saturday. This is once again a news of relief for the common people.
impact on international market
The price of crude oil in the international market has been continuously declining for the last several days. The price of WTI crude has come close to $85.61 per barrel and Brent crude has come close to $91.63 per barrel.
Earlier on May 21, the government had cut excise duty. Excise duty on petrol was cut by Rs 8 per liter and on diesel by Rs 6 per litre. Since then the price of petrol and diesel has come down. After this, diesel became cheaper by Rs 9.50 and Rs 7 per liter in the country. Rajasthan, Maharashtra, Odisha and Kerala governments also cut VAT after the Centre’s announcement.
At present, petrol is being sold at Rs 96.72 per liter and diesel at Rs 89.62 per liter in Delhi. At the same time, petrol is available at Rs 106.31 and diesel at Rs 94.27 per liter in Mumbai. Whereas in Kolkata, petrol is Rs 106.03 and diesel is Rs 92.76 per litre. Whereas in Chennai, petrol is being sold at Rs 102.63 and diesel at Rs 94.24 per litre.
Get the cheapest petrol, diesel on July 8, 2023
Cheapest Petrol & Diesel being sold in Port Blair. Where petrol costs Rs 84.10 per liter and diesel costs Rs 79.74 per litre.
Petrol, diesel price on 8th July 2023
Delhi: Petrol Rs 96.72 and diesel Rs 89.62 per litre.
Mumbai: Petrol Rs 106.31 and diesel Rs 94.27 per litre.
Kolkata: Petrol Rs 106.03 and diesel Rs 92.76 per litre.
Chennai: Petrol Rs 102.63 and diesel Rs 94.24 per litre.
Hyderabad: Petrol Rs 109.66 and diesel Rs 97.82 per litre.
Bengaluru: Petrol Rs 101.94 and diesel Rs 87.89 per litre.
Thiruvananthapuram: Petrol Rs 107.71 and diesel Rs 96.52 per litre.
Port Blair: Petrol Rs 84.10 and Diesel Rs 79.74 per litre.
Bhubaneswar: Petrol Rs 103.19 and diesel Rs 94.76 per litre.
Chandigarh: Petrol Rs 96.20 and diesel Rs 84.26 per litre.
Lucknow: Petrol Rs 96.57 and diesel Rs 89.76 per litre.
Noida: Petrol Rs 96.57 and Diesel Rs 89.96 per litre.
Jaipur: Petrol Rs 108.48 and diesel Rs 93.72 per litre.
Patna: Petrol Rs 107.24 and diesel Rs 94.04 per liter
Gurgaon: Rs 97.18 and diesel Rs 90.05 per litre.
Factors that affect the price of petrol and diesel
After adding excise duty, dealer commission and other things to the price of petrol and diesel, its price almost doubles. Petrol and diesel prices change daily depending on what the crude oil prices are in the international market along with foreign exchange rates.
Know the rates in your city
Let us tell you that the prices of petrol and diesel change daily and are updated at 6 am. You can also know the daily rate of petrol and diesel through SMS. Indian Oil customers can get the information by sending RSP along with city code to 9224992249 and BPCL customers can send RSP to 9223112222. At the same time, HPCL consumers can know the price by typing HP Price on the number 9222201122.