Petrol and Diesel Rate Today, 10 January- Fuel rates steady; Check prices in Delhi, Mumbai, other cities

Petrol and Diesel Rate Today, 10 January: Fuel rates steady; Check prices in Delhi, Mumbai, other cities

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Fuel prices remain unchanged on 10 January 2023 (Tuesday), keeping costs steady for about seven months now. In Mumbai, petrol is retailing at Rs 106.31 per litre, and diesel is selling at Rs 94.27 per litre. In the National Capital, petrol price is priced at Rs 96.72, while diesel is retailing at Rs 89.62 per litre, respectively. 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.

Any changes in petrol and diesel costs are implemented from 6 am every day. 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 includingBharat Petroleum CorporationLtd (BPCL),Indian Oil Corporation Ltd (IOCL)andHindustan Petroleum Corporation Ltd (HPCL)revise their prices daily in line withinternational benchmark pricesand forex rates.

Export of petrol by Indian oil marketing companies (OMCs) rose 142% in a year between 2020-21 and 2021-22, while there was a miniscule rise of less than 1% in export of diesel during the same period. According to official figures, the OMCs exported 668 thousand metric tonnes (TMT) of petrol in 2021-22, which was 142 per cent more than 276 TMT of petrol exported by the country in 2020-21.

Since the cut ofexcise dutyby the central government, some states have also reduced VAT prices on fuels. Meghalaya was the last state to update the fuel prices when it increased VAT on August 24, because of whichpetrolnow costs Rs 96.83 per litre in Shillong and diesel is now priced at Rs 84.72 per litre. The Maharashtra government cut value-added tax (VAT) onpetrolby Rs 5 a litre and by Rs 3 a litre for diesel in July.