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Petrol, Diesel Become Cheaper After Centre Slashes Excise Duty. Know Fuel Rates Today

By: Business Desk

Last Updated: May 27, 2022, 07:55 IST

Petrol in Delhi is Rs 96.72 a liter and diesel stands at Rs 89.62.

Petrol in Delhi is Rs 96.72 a liter and diesel stands at Rs 89.62.

Petrol, Diesel Prices on Friday: Petrol in Delhi is Rs 96.72 a liter and diesel stands at Rs 89.62.

Petrol, Diesel Prices on Friday: Petrol, and diesel prices have remained unchanged on Friday, May 27. Oil marketing companies have released new rates for petrol and diesel at 6 am today. Despite crude oil crossing $117 per barrel, there is a relief on Friday for consumers as for the fifth day the prices have not been changed. Petrol in Delhi is Rs 96.72 a liter and diesel stands at Rs 89.62. The cheapest petrol in Port Blair is Rs 84.10 and diesel is Rs 79.74 a litre. Whereas, even today, the costliest petrol in the country is Rs 114.38 per liter in Parbhani in Maharashtra. In Mumbai, petrol currently costs Rs 111.35, while diesel is retailing at Rs 97.28, data available on Indian Oil Corporation’s website showed.

The rates of Petrol and, Diesel have seen a sharp reduction after last week finance minister Nirmala Sitharaman announced a cut in excise duty on petrol by 8 per litre, and 6 rupees per litre on diesel. Following the government’s decision petrol price was cut by Rs 8.69 per litre while diesel was reduced by Rs 7.05 in the national capital.

Subsequently, the state governments of Maharashtra, Rajasthan and Kerala too decreased VAT on petrol and diesel following Sitharaman’s call to provide further relief to consumers following a cut in excise duty by the Centre.

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.

OMCs generally revise the 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 fell on Friday, breaking a cautious rally streak this week on signs of tight supply while the European Union wrangles with Hungary over plans to ban imports from Russia, the world’s second-largest crude exporter, after it invaded Ukraine, news agency Reuters reported.

Oil prices eased slightly in early Asian trade on Friday, after surging to a two-month high in the previous session as investors focused on signs of tight global supply. Brent crude futures fell 11 cents to $117.29 a barrel by 0:08 GMT. WTI crude futures for July delivery fell 19 cents to $113.90 a barrel.

Petrol, Diesel Prices on Friday, May 27, in Delhi, Mumbai, Chennai and Other Major Cities in India:

Delhi

Petrol: Rs 96.72 per litre

Diesel: Rs 89.62 per litre

Mumbai

Petrol: Rs 111.35 per litre

Diesel: Rs 97.28 per litre

Kolkata

Petrol: Rs 106.03 per litre

Diesel: Rs 92.76 per litre

Chennai

Petrol: Rs 102.63 per litre

Diesel: Rs 94.24 per litre

Bhopal

Petrol: Rs 108.65 per litre

Diesel: Rs 93.90 per litre

Hyderabad

Petrol: Rs 109.66 per litre

Diesel: Rs 97.82 per litre

Bengaluru

Petrol: Rs 101.94 per litre

Diesel: Rs 87.89 per litre

Guwahati

Petrol: Rs 96.01 per litre

Diesel: Rs 83.94 per litre

Lucknow

Petrol: Rs 96.57 per litre

Diesel: Rs 89.76 per litre

Gandhinagar

Petrol: Rs 96.63 per litre

Diesel: Rs 92.38 per litre

Thiruvananthapuram

Petrol: Rs 107.71 per litre

Diesel: Rs 96.52 per litre.

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first published:May 27, 2022, 07:36 IST
last updated:May 27, 2022, 07:55 IST