Petrol and Diesel Price Today, 18 Oct 2022: Fuel prices unchanged; Check rates in Delhi, Mumbai, other cities

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: The price of petrol and diesel remained unchanged on 18 October 2022 (Tuesday), keeping costs steady for four months now. The petrol rate and diesel rate in Delhi is at Rs 96.72 and Rs 89.62 per litre respectively. In Mumbai, petrol is retailing at Rs 106.31 per litre and diesel at Rs 94.27 per litre. Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with international benchmark prices and foreign exchange rates.

Also Read: Share Market LIVE: Nifty, Sensex likely to open higher on strong global cues; CPI inflation to ease, says RBI

Mumbai: Petrol price: Rs 106.31 per litre, Diesel price: 94.27 per litre

Delhi: Petrol price: Rs 96.72 per litre, Diesel price: Rs 89.62 per litre

Chennai: Petrol price: Rs 102.63 per litre, Diesel price: Rs 94.24 per litre

Kolkata: Petrol price: Rs 106.03 per litre, Diesel price: Rs 92.76 per litre

Bengaluru: Petrol: Rs 101.94 per litre, Diesel: Rs 87.89 per litre

Lucknow: Petrol: Rs 96.57 per litre, Diesel: Rs 89.76 per litre

Noida: Petrol: Rs 96.79 per litre, Diesel: Rs 89.96 per litre

Gurugram: Petrol: Rs 97.18 per litre, Diesel: Rs 90.05 per litre

Chandigarh: Petrol: Rs 96.20 per litre, Diesel: Rs 84.26 per litre

Any changes in petrol and diesel prices are implemented from 6 am every day. Retail petrol and diesel prices differ from state to state because of local taxes like VAT or freight charges. India’s State-owned Oil Marketing Companies have lost an estimated $6.5 billion-$7 billion on petrol and diesel sales due to a virtual freeze in retail prices between November 2021 and August 2022 and their earnings may remain weak this year as they are yet to be compensated for these losses, Moody’s Investors Service said recently.

Also Read: Rupee likely to remain steady on retreat in dollar, stable crude prices; USDINR to trade in this range

The last country-wide change in fuel prices came on 21 May this year, when Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel. Since the central government excise duty cut, some states have also reduced VAT rates on auto fuels. Meghalaya was the last to revise the fuel rates when it increased VAT on August 24, because of which petrol now costs Rs. 96.83 per litre in Shillong and diesel is now priced at Rs. 84.72 per litre. The Maharashtra government announced a cut in value-added tax (VAT) on petrol by Rs 5 a litre and by Rs 3 a litre for diesel in July.