Petrol and Diesel Rate Today, 11 January- Fuel rates unchanged; Check prices in Delhi, Mumbai, other cities

Petrol and Diesel Rate Today, 11 January: Fuel rates unchanged; Check prices in Delhi, Mumbai, other cities

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Fuel prices remain unchanged on Wednesday, 11 January 2023, keeping costs steady for about seven months now. In Delhi, petrol price is priced at Rs 96.72, while diesel in the National Capital is retailing at Rs 89.62 per litre. In Mumbai, petrol is retailing at Rs 106.31 per litre, and diesel is selling at Rs 94.27 per litre. 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, some states have also reduced VAT prices on fuels. Himachal Pradesh government on January 8 increased value added tax (VAT) on diesel by Rs 3 per litre. The hike varies as per different fuel stations. On the other hand, the govt slashed taxes on petrol by 0.55 paise. After the revision, the VAT on diesel, will now go up to Rs 7.40 per litre from Rs 4.40 per litre, pushing prices in the state to Rs 86 per litre.

The prices of petrol and diesel change state by state, depending upon various criteria such as Value Added Tax (VAT), freight charges, the local taxes, etc. Public sector 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 prices fell on Wednesday, erasing the previous session’s gains, after industry data showed an unexpected build in crude and fuel inventories in the United States, the world’s biggest oil user, which reignited worries about fuel demand. U.S. West Texas Intermediate (WTI) crude futures fell 59 cents, or 0.8%, to $74.53 a barrel at 0134 GMT, while Brent crude futures were down 62 cents, or 0.8%, at $79.48 a barrel.