Petrol and diesel price today: Petrol and diesel prices across the country remained unchanged on Friday, March 11, 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.
There has been no change in domestic auto fuel prices in over four months despite the global crude oil prices breaching the three-figure mark and touching multi-year highs. 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.
Petrol and diesel prices in the country 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.
Generally, the oil marking companies (OMCs) revise rates of petrol and diesel daily, based on the average price of benchmark fuel in the international market in the preceding 15-days and foreign exchange rates.
In the global market, oil prices stabilised on Friday and were on track for their biggest weekly drop since November after see-sawing on fears of escalating bans on Russian oil versus efforts to bring more supply to market from other major producers, news agency Reuters reported.
Brent crude futures inched down 16 cents (0.15 per cent) to $109.17 a barrel after dropping 1.6 per cent in the previous session while US West Texas Intermediate (WTI) crude futures were up 2 cents (0.02 per cent) to $106.04 a barrel, following a 2.5 per cent decline on Thursday, the report said.
Here’s what you pay for a litre of petrol and diesel in your city on Friday, March 11, 2022:
|City||Petrol (Rs/litre)||Diesel (Rs/litre)|
|Source: Indian Oil Corporation|