Petrol Price Drops in India After Centre Cuts Excise Duty Last Month: Check Petrol, Diesel Rates Today

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posted on 2 years ago — updated on 1 second ago

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Petrol, Diesel Price Today, June 11: Petrol price in Delhi today stands at Rs 96.72 a litre, while diesel will cost Rs 89.62 a litre

Petrol, Diesel Price Today: Petrol price on Saturday, June 11, remained unchanged across India, while diesel price today also remained stable even as the basket of crude oil that India buys has hit a decade high of $121 per barrel. Petrol price and diesel price have remained unchanged for around three weeks now, since Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by 8 per litre, and 6 rupees per litre on diesel earlier last month.

Petrol price in Delhi stood at Rs 96.72 per litre and Rs 111.35 per litre in Mumbai, while diesel was being sold at Rs 89.62 per litre in Delhi and Rs 97.28 per litre in Mumbai. On the other hand, petrol price in Kolkata today was standing at Rs 106.03 after the tax cut, while diesel price in the city stood at Rs 92.76 per litre. Elsewhere in the country, petrol was retailing at Rs 102.63 per litre while diesel was priced at Rs 94.24 per litre.

On May 21, Nirmala Sitharaman announced a cut in excise duty on petrol by 8 per litre, and 6 rupees per litre on diesel. Following the government’s decision petrol price was cut by Rs 8.69 per litre while diesel was reduced by Rs 7.05 in the national capital. Several other states also announced that a cut in the VAT earned from fuel prices was implemented following the excise duty cut.

Petrol and diesel prices have remained the same since May 22, after the excise duty cut was implemented. This was despite the Indian crude oil basket on June 9 touching $ 121.28, matching levels seen in February/March 2012, according to data available from the oil ministry’s Petroleum Planning and Analysis Cell (PPAC). International oil prices held near a 13-week high on Thursday, but came down slightly the day after.

Fuel prices in India depend on international crude oil prices, rupee-dollar exchange rate. On top of this, the central government and states levy various taxes including excise duty and Value Added Tax (VAT) on petrol and diesel. The commission taken by the dealer and freight charges are also included in the fuel price.

Petrol, Diesel Prices on June 11, 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