Petrol, Diesel Prices: Fuel rates remained unchanged across four metro cities
Petrol, Diesel Prices Today: Fuel prices remained unchanged today on June 10, 2022 for the 19th consecutive day across four metros. They were last revised on May 22, 2022, after Finance Minister Nirmala Sitharaman had announced a cut in excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel.
After the announcement, fuel prices had come down across the country and since then have remained stable, despite global crude oil prices having risen. Oil marketing companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum have indicated to the Government about their rising under-recoveries due to the price freeze while international crude prices have soared.
Interestingly, even as retail fuel prices have remained unchanged, Indian basket of crude oil hit a decade high of $121 per barrel.
The Indian basket on June 9 touched $121.28, matching levels seen in February and March 2012, according to data available from the Oil Ministry's Petroleum Planning and Analysis Cell (PPAC).
Meanwhile petrol price in Delhi is Rs 96.72 a litre while diesel in the national capital costs Rs 89.62 a litre.
In Mumbai petrol costs Rs 111.35 per litre while diesel is priced at Rs 97.28 a litre. Among the four metro cities, fuel prices remain the highest in Mumbai.
Fuel rates vary from state to state depending upon the incidence of local taxation.
Here are the petrol and diesel price across the metro cities:
State-run oil refiners such as Indian Oil, Bharat Petroleum and Hindustan Petroleum revise the fuel rates on a daily basis, by taking into account the crude oil prices in the international markets, and the rupee-dollar exchange rates. Any changes in petrol and diesel prices are implemented with effect from 6 am every day.
India is 85 per cent dependent on imports to meet its oil needs and the domestic petrol and diesel prices are linked to international rates.