- Petrol rate in Delhi at Rs. 68.35 a litre, diesel at Rs 56.94 a litre
- Excise duty on petrol, diesel cut with effect from Wednesday
- Petrol rates, diesel rates revised on a daily basis, effective 6 am
Petrol, diesel price today after revision
On Saturday, non-branded petrol rates were at Rs 68.35 per litre in Delhi, Rs 71.13 in Kolkata, Rs 77.48 in Mumbai and Rs 70.82 in Chennai, marginally lower from Friday's petrol rates, according to Indian Oil's website. The price of unbranded diesel was at was at Rs 56.94 in Delhi, Rs 59.60 in Kolkata, 60.49 in Mumbai and Rs 59.94 in Chennai, according to the Indian Oil website, about a paisa lower compared to Friday's rates.
|Unbranded Petrol (Rs)||Delhi||Kolkata||Mumbai||Chennai|
|Unbranded Diesel (Rs)||Delhi||Kolkata||Mumbai||Chennai|
Global crude oil prices have surged to their highest level in two years on optimism of a demand pick-up and geopolitical tensions. The excise duty cut on petrol and diesel would cost the government Rs 26,000 crore in annual revenue and about Rs 13,000 crore during the remaining part of the current fiscal year that ends on March 31, 2018.
Previously, the petrol and diesel rates were changed every fortnight but since June 16, they are revised daily to immediately pass on any movement in international oil prices to consumers and avoid sharp spikes by spreading them in small doses.
Petrol and diesel don't come under the ambit of GST (Goods and Services Tax). Besides, global prices, excise duty and VAT determine the domestic price of petrol and diesel. India relies on imports to meet 80 per cent of its needs.