Petrol Price, Diesel Price Today: Fresh Fuel Rates Announced; Know how much you have to pay

“Government of India stands ready to take all appropriate action to mitigate market volatility and quell the rise in crude oil prices,” he said.

Petrol in Delhi costs Rs 95.41 per liter while diesel costs Rs 86.67 per liter. Petrol in Mumbai can be bought at Rs 109.98 per liter and diesel at Rs 94.14 per liter.

The cost of a liter of petrol in Chennai is Rs 101.40. On Tuesday, the price of a liter of diesel was Rs 91.43 per litre. Petrol in Kolkata costs Rs 104.67 per liter while diesel costs Rs 101.56 per litre.

In Delhi, the fuel is relatively cheaper than the rest of the metropolis as the state government had earlier decided to reduce the value added tax (VAT) on petrol, bringing down the fuel price in the city by about Rs 8 per litre.

Earlier, petrol price in Delhi was higher than in NCR cities of Uttar Pradesh and Haryana, where state governments announced reduction in VAT after reducing excise duty on fuel prices.

On the eve of Diwali, the Center announced a cut in excise duty on the fuel, resulting in a sharp reduction in the prices of petrol and diesel across the country. The government had cut the price of petrol by Rs 5 and that of diesel by Rs 10. Following this decision, several states, mostly the National Democratic Alliance (NDA) and allies, have also cut Value Added Tax (VAT) on petrol. Diesel prices. Opposition-ruled Punjab and Rajasthan also announced the biggest cut in petrol prices.

Oil prices plunged to a two-week low on Tuesday on ceasefire talks between Russia and Ukraine and concerns about demand in China following a rise in COVID-19 cases. Brent futures fell $4.20, or 3.9 percent, to $102.70 a barrel by 0125 GMT, after falling 5.1 percent the previous day. US West Texas Intermediate (WTI) crude fell below the $100 level for the first time since March 1, down $4.30, or 4.2 percent, at $98.71 a barrel. This was followed by a decline of 5.8 per cent on the previous day.