The fuel prices in India have remained stable for yet another day on Wednesday, January 11 owing to the central government’s price freeze. This price freeze has been in place since Union Finance Minister Nirmala Sitharaman announced a reduction in excise duty on fuel rates on May 21, last year.
According to the US Energy Information Administration’s Short-Term Energy Outlook, the worldwide consumption of liquid fuels is anticipated to reach 102.2 million barrels per day in 2024, driven mostly by development in nations like China and India, which reflects trends in economic activity.
Petrol prices have crossed the Rs 100 mark in major cities such as Mumbai, Hyderabad, Chennai, and Kolkata. According to the most recent update for the two primary automotive fuels, the price of petrol in Delhi on January 11 was locked at Rs 96.72 per litre and diesel at Rs 89.62. In Mumbai, the country’s financial hub, a litre of petrol costs Rs 106.31 and a litre of diesel costs Rs 94.27. People in Chennai would have to shell out Rs 102.63 for a litre of petrol, compared to Rs 94.24 for a litre of diesel. The cost of diesel in Kolkata is Rs 92.76, while the price of petrol is Rs 106.03.
Check fuel rates in different cities in the country on January 11:
Delhi
Petrol: Rs 96.72 per litre
Diesel: Rs 89.62 per litre
Chennai
Petrol: Rs 102.63 per litre
Diesel: Rs 94.24 per litre
Kolkata
Petrol: Rs 106.03 per litre
Diesel: Rs 92.76 per litre
Mumbai
Petrol: Rs 106.31 per litre
Diesel: Rs 94.27 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
Bhopal
Petrol: Rs 108.65 per litre
Diesel: Rs 93.90 per litre
Gandhinagar
Petrol: Rs 96.63 per litre
Diesel: Rs 92.38 per litre
Guwahati
Petrol: Rs 96.01 per litre
Diesel: Rs 83.94 per litre
Hyderabad
Petrol: Rs 109.66 per litre
Diesel: Rs 97.82 per litre
Thiruvananthapuram
Petrol: Rs 107.71 per litre
Diesel: Rs 96.52 per litre.
Every day at 6 in the morning, any changes to the price of petrol and diesel are announced. Value Added Tax (VAT), freight costs, local taxes, and other variables are a few that affect how fuel prices vary from state to state. Foreign currency exchange rates and international benchmark prices are taken into account in the daily price adjustments made by public sector oil marketing companies such as Bharat Petroleum Corporation Ltd, Indian Oil Corporation Ltd, and Hindustan Petroleum Corporation Ltd.
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