petrol price
petrol price

Today’s fuel and diesel prices: Petrol and diesel prices remained steady for the fourth consecutive day on Monday, November 8, 2021. The fuel prices were last changed on Thursday (November 4) after the central government reduced the excise levy on the two main fuels to bring them down from record highs.

In Delhi, the price of petrol is Rs 103.97 a litre, while diesel is Rs 86.67. According to data from the Indian Oil Corporation’s website, petrol costs Rs 109.98 in Mumbai, while diesel costs Rs 94.14.

Last week, on Wednesday, the Finance Ministry announced a Rs 5 per litre reduction in excise duty on petrol and a Rs 10 reduction in excise duty on diesel. This is the first drop in central excise duties in over three years, despite record-high fuel costs. The duty reduction reduces the total excise duty on petrol to Rs 27.9 per litre, down from Rs 32.9 per litre, and diesel to Rs 21.8 per litre, down from Rs 31.8 per litre.

In addition to lowering the excise charge, the central government encouraged state governments to slash VAT on gasoline and diesel to provide assistance to customers. Several states have announced new reductions in Value Added Tax (VAT) on gasoline and diesel.

Auto fuel prices in the United States vary by state due to local taxation (VAT) and freight charges. Aside from that, the central government levies an excise levy on automobile fuels.

OMCs, modify petrol and diesel rates on a daily basis based on the average price of benchmark fuel in the worldwide market over the previous 15 days and foreign exchange rates.
Oil prices jumped on Monday in the worldwide market as good indicators for global economic development bolstered the prognosis for energy consumption, while Saudi Arabia’s state-owned producer Aramco hiked the official selling price for its crude, according to news agency Reuters.

Brent crude was up 86 cents (1%) at $83.60 a barrel by 0745 GMT, after falling nearly 2% the previous week. According to the report, US oil rose 89 cents (1.1%) to $82.16, after falling nearly 3% through Friday.

City Petrol (Rs/litre) Diesel (Rs/litre)
New Delhi 103.97 86.67
Mumbai 109.98 94.14
Kolkata 104.67 89.79
Chennai 101.40 91.43
Bengaluru 100.58 85.01
Hyderabad 108.20 94.62
Patna 105.90 91.09
Bhopal 107.23 90.87
Jaipur 111.10 95.71
Lucknow 95.28 86.80
Thiruvananthapuram 106.36 93.47
Source: Indian Oil Corporation

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