Petrol Price, Diesel Price Cut Today: Fuel Rates Become Cheaper. Know How Much You Pay

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After the latest revision, a litre of petrol costs Rs 101.49 in Delhi. In Mumbai, petrol can be bought at Rs 107.52 per litre

In a bid to provide relief to common man, the state-owned fuel retails have cut the prices of petrol and diesel again on Tuesday. While petrol price has become cheaper by 14-15 paise per litre, diesel rate has come down by 15-16 paise for a litre. This was the second reduction in petrol and diesel prices this week. On August 22, petrol price dropped 15 to 20 paise per litre across the country after 35 days.

After the latest revision, a litre of petrol costs Rs 101.49 in Delhi. In Mumbai, petrol can be bought at Rs 107.52 per litre. A litre of precious auto-fuel is priced at Rs 99.20 in Chennai. It must be noted that Tamil Nadu government had earlier announced a cut in cess on auto fuel last month. In Kolkata, you have to pay Rs 101.82 for a litre of petrol.

Diesel price has also witnessed sharp cut in last one week. A litre of diesel now costs Rs 88.92 in Delhi. In Mumbai, diesel is being sold at Rs 96.48 per litre. The retail price of diesel is revised to Rs 93.52 in Chennai and Rs 91.98 in Kolkata.

Petrol and diesel price touched all-time high in India this year. Petrol price was increased by ₹11.44 a litre and diesel rates went up by ₹9.14 between May 4 and July 17. This continuous hike pushed petrol over Rs 100-per-litre-mark in many states. Diesel price was over Rs 100 in at least three states.

Petrol is selling at over Rs 100 for a litre in 19 states across the country including Delhi, Maharashtra, West Bengal, Uttar Pradesh, Rajasthan, Pradesh, Andhra Pradesh, Telangana, Hyderabad, Karnataka, Odisha, Jammu and Kashmir and Ladakh.

The price of auto fuel in India depends on international crude oil prices, rupee-dollar exchange rate. The central government and states levy various taxes — excise duty and Value Added Tax (VAT) on petrol and diesel. Central and state taxes make up for 60 per cent of the retail selling price of petrol and over 54 per cent of diesel. Oil marketing companies like the Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum Corporation Limited revise the rates daily.

Oil prices rose on Tuesday after US drug regulator granted full approval to the Pfizer Inc/BioNTech SE COVID-19 vaccine. Brent crude oil futures gained 66 cents, or 0.9 per cent, to $69.41 a barrel by 0201 GMT. US West Texas Intermediate (WTI) crude futures increased by 60 cents, or 0.9 per cent, to $66.24 a barrel. Both benchmarks jumped more than 5 per cent on Monday.

A look at petrol and diesel prices in across the country

-Mumbai

Petrol – Rs 107.52 per litre

Diesel – Rs 96.48 per litre

-Delhi

Petrol – Rs 101.49 per litre

Diesel – Rs 88.92 per litre

-Chennai

Petrol – Rs 99.20 per litre

Diesel – Rs 93.52 per litre

-Kolkata

Petrol – Rs 101.82 per litre