Petrol and diesel price today: Prices of petrol and diesel remained unchanged across the country on Monday, March 14, 2022.
The price of petrol in Delhi stands at Rs 95.41 per litre while that of diesel is at Rs 86.67. In Mumbai, petrol currently costs Rs 109.98, while diesel is retailing at Rs 94.14, data available on Indian Oil Corporation’s website showed.
Fuel prices in India have not changed in over four months even though the global crude oil prices breached the three-figure mark and touched multi-year highs amid the Russia-Ukraine conflict. The prices across key cities were collectively last revised on November 4, 2021, when the central government cut the excise duty on the two key fuels to bring down their retail rates from their record highs and had urged state governments to cut VAT on fuel. Thereafter, various states had reduced VAT on auto fuels.
In India, petrol and diesel prices differ from state to state depending on the local taxation (VAT) and freight charges. Apart from this, the central government charges an excise duty on auto fuels.
The oil marking companies (OMCs) generally revise rates of petrol and diesel on a daily basis, based on the average price of benchmark fuel in the international market in the preceding 15-days and foreign exchange rates.
In the international market, the chance of progress on Ukraine saw oil prices surrender a little of their recent gains, even as talks with producer Iran seemed to be stalled, news agency Reuters reported in an update.
Brent was last quoted $2.13 lower at $110.54, while US crude fell $2.46 to $106.84, the report said.
Here’s what you pay for a litre of petrol and diesel in your city on Monday, March 14, 2022:
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|