After witnessing a major price drop in recent time, the prices of petrol and diesel have remained unchanged for the 13th consecutive day. As of today, the petrol price in Delhi stands at Rs 96.72 a litre as compared to Rs 105.41 a litre last week. The price of diesel stands at Rs 89.62 in the national capital.
Mumbai residents can get petrol at Rs 111.35 and diesel at Rs 97.28 per litre.
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Fuel prices recorded a major low after Finance Minister Nirmala Sitharaman announced a cut in excise duty on May 21, 2022. The announcement reduced excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per litre.
Following this, various state governments, including Maharashtra, Kerala, Rajasthan had decreased VAT on fuel. The reduction was encouraged to offer some relief to consumers.
All public sector OMCs like Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL) revise the price of fuel every day in accordance to the benchmark international prices and foreign exchange rates.
In line with this, the revised prices of petrol and diesel are implemented from 6 am daily. As the local taxes on VAT or freight charges vary from one state to another.
Notably, the international oil prices marked a major low in the international market today. This is expected to be good news for the Indian market. The international oil prices dropped nearly $3 a barrel in early Asian trade today.
This comes after the market witnessed higher benchmarks for several weeks as EU and US are squeezing Russian exports over the latter’s attack on Ukraine.
Here are the petrol, diesel price as on June 2
Delhi
Petrol stands at Rs 96.72 per litre
Diesel stands at Rs 89.62 per litre
Mumbai
Petrol stands at Rs 111.35 per litre
Diesel stands at Rs 97.28 per litre
Bhopal
Petrol stands at Rs 108.65 per litre
Diesel stands at Rs 93.90 per litre
Hyderabad
Petrol stands at Rs 109.66 per litre
Diesel stands at R 97.82 per litre
Bengaluru
Petrol stands at Rs 101.94 per litre
Diesel stands at Rs 87.89 per litre
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