Fuel Prices Remain Unchanged Across Metros Today

Petrol, diesel prices: Fuel rates unchanged on June 9 in metro cities

Petrol, Diesel Prices Today: Fuel prices remained unchanged today on June 9, 2022, for the 18th consecutive day in the four metros.

Petrol in Delhi costs Rs 96.72 per liter while diesel costs Rs 89.62 per liter in the national capital.

Petrol in Mumbai costs Rs 111.35 per liter while diesel costs Rs 97.28 per liter. Mumbai has the highest fuel prices among the four metro cities.

Earlier on May 22, 2022, fuel prices were reduced after Finance Minister Nirmala Sitharaman announced a reduction in excise duty by Rs 8 per liter on petrol and Rs 6 per liter on diesel on the evening of May 21.

The cut in excise duty, along with a reduction of Rs 5 on petrol and Rs 10 on diesel, with effect from November 4, 2021, reverses the hike in taxes on petrol and diesel by Rs 13 per liter and Rs 16 per liter respectively, which was effective . Between March 2020 and May 2020, consumers to avoid a sharp drop in international oil prices.

Fuel rates vary from state to state depending on local taxation events.

Petrol and diesel prices in metro cities are as follows:

State-run oil refiners such as Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel rates on a daily basis, taking into account crude oil prices and rupee-dollar exchange rates in international markets. Any change in the prices of petrol and diesel is effective from 6 am every day.

India is 85 per cent dependent on imports to meet its oil needs and domestic petrol and diesel prices are linked to international rates.

Meanwhile, Reuters reported that oil prices held near a 13-week high on Thursday on strong demand in the United States, the world’s top consumer, while demand in China is expected to rebound as major cities hit by the COVID-19 pandemic. Restrictions have been eased.

Brent crude futures for August were up 12 cents to $123.70 a barrel by 0033 GMT, while US West Texas Intermediate crude for July was up 6 cents at $122.17 a barrel.

Fuel prices in the country have remained stable for the past 18 days, despite a hike in global crude oil prices, leading to under-recoveries reported by oil marketing companies such as Indian Oil, Hindustan Petroleum and Bharat Petroleum.

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