Petrol, Diesel Prices Today: Fuel Rates Slashed After Centre’s Excise Duty Cut; Know Latest Cost

After remaining unchanged for 45 days, petrol and diesel prices on Sunday have been reduced in the country. The development comes after the central government cut excise duty on petrol by a record Rs 8 per litre and that on diesel by Rs 6 per litre. The cut was estimated to translate into a reduction of Rs 9.5 per litre in petrol prices and Rs 7 per litre in diesel, after taking into account its impact on other levies.

The price of petrol in Delhi has been reduced to Rs 96.72 per litre, while the per-litre diesel price now stands at Rs 89.62. In Mumbai, petrol was retailing at Rs 111.35 per litre after the latest excise duty cut, while diesel was being sold at Rs 97.28 a litre. In Kolkata, the latest petrol price now stands at Rs 106.03 per litre, while the price of diesel is Rs 92.76 per litre. In Chennai, petrol was being sold at Rs 102.63 per litre on Sunday and diesel at Rs 94.24 a litre.

In other parts of the country, the price of petrol in Bhopal on Sunday was Rs 108.65 per litre and that of diesel was Rs 93.90 per litre. In Hyderabad, petrol was retailing at Rs 109.66 per litre, while diesel was at Rs 97.82 per litre. In Bengaluru, the price of petrol stood at Rs 101.94 per litre and diesel at Rs 87.89 per litre.

In Guwahati, petrol was at Rs 96.01 per litre and diesel at Rs 83.94 per litre. In Lucknow, petrol was selling at Rs 96.57 per litre and diesel at Rs 89.76 per litre. In Gandhinagar, petrol stood at Rs 96.63 per litre and diesel at Rs 92.38 per litre. In Thiruvananthapuram, petrol was at Rs 107.71 per litre and diesel at Rs 96.52 per litre.

Announcing the decision to cut the central excise duty, Finance Minister Nirmala Sitharaman on Saturday said in a tweet, “We are reducing the central excise duty on Petrol by Rs 8 per litre and on Diesel by Rs 6 per litre. This will reduce the price of petrol by Rs 9.5 per litre and of Diesel by Rs 7 per litre. It will have revenue implication of around Rs 1 lakh crore per year for the government.”

She also added that she wished to exhort all state governments, especially the states where the reduction was not done during the last round (November 2021), to also implement a similar cut and give relief to the common man.

Prime Minister Narendra Modi in a tweet said on Saturday, “It is always people first for us! Today’s decisions, especially the one relating to a significant drop in petrol and diesel prices will positively impact various sectors, provide relief to our citizens and further ‘Ease of Living.’”

Prices of petrol and diesel were increased by the Oil Marketing Companies (OMCs) by Rs 10 per litre in 14 hikes that took place between March 22 and April 6.
Petrol, Diesel Prices on Sunday, May 22, in Delhi, 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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