Petrol and Diesel Rate Today, 12 May- Some cities see revision; Check rates in Delhi, Mumbai, other cities

Petrol and Diesel Rate Today, 12 May: Some cities see revision; Check rates in Delhi, Mumbai, other cities

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Petrol and diesel prices were constant on Friday, 12 May across New Delhi, Kolkata, Mumbai, and Bengaluru. Petrol rates and diesel rates have been steady over the last eleven months. However, individual cities see fluctuations in their prices everyday. The prices of petrol and diesel change state by state, depending upon various criteria such as Value Added Tax (VAT), freight charges, local taxes, etc.

The last country-wide change in fuel rates was on 21 May last year, when Finance Minister Nirmala Sitharaman slashed excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel. Since the cut of excise duty by the central government in May 2022, some states have also reduced VAT prices on fuels, while some have imposed cess on petrol and diesel.

Oil prices regained some ground in early Asian trade on Friday with traders engaged in short-covering ahead of the weekend, but uncertainties regarding the U.S. debt ceiling and renewed fears over a U.S. regional banking crisis capped gains. Brent crude futures rose by 36 cents, or 0.5%, to $75.34 a barrel by 0051 GMT. U.S. crude futures gained 41 cents, or 0.6%, to $71.28. They recovered from losses of about 3%-4% over the past two sessions.

Petrol, diesel prices in Chennai, Kolkata, Bengaluru, Lucknow, Noida, GurugramBengaluru: Petrol rate: Rs 101.94 per litre, Diesel rate: Rs 87.89 per litreChandigarh: Petrol rate: Rs 96.20 per litre, Diesel rate: Rs 84.26 per litreChennai: Petrol rate: Rs 102.73 per litre, Diesel rate: Rs 94.33 per litreGurugram: Petrol rate: Rs 97.04 per litre, Diesel rate: Rs 89.91 per litreKolkata: Petrol rate: Rs 106.03 per litre, Diesel rate: Rs 92.76 per litreLucknow: Petrol rate: Rs 96.57 per litre, Diesel rate: Rs 89.76 per litreMumbai: Petrol rate: Rs 106.31 per litre, Diesel rate: Rs 94.27 per litreNew Delhi: Petrol rate: Rs 96.72 per litre, Diesel rate: Rs 89.62 per litreNoida: Petrol rate: Rs 96.65 per litre, Diesel rate: Rs 89.82 per litre

Public sector Oil Marketing Companies (OMCs) including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise their prices daily in line with international benchmark prices and forex rates. Any changes in petrol and diesel costs are implemented from 6 am every day. Oil Minister Hardeep Singh Puri recently asked OMCs to cut the retail prices of petrol and diesel if the crude oil prices in the international market come down and also if OMCs under recovery come down.