Petrol and diesel price today January 18

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol and diesel prices were left untouched on January 18 across the country. Petrol in the National Capital of Delhi currently retails at Rs 95.41 per litre while diesel in the city is priced at Rs 86.67 per litre. In Mumbai, a litre of petrol and diesel cost Rs 109.98 and Rs 94.14, respectively. Fuel prices have been stable since the central government cut excise duty to bring down retail rates from record highs. Public sector oil marketing companies (OMCs) including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.

OMCs have neither raised nor reduced petrol and diesel rates for more than two months while international oil prices remain volatile. The most recent change in price of petrol and diesel prices came on December 1 in Delhi after the local government reduced the Value-Added Tax (VAT) on petrol from 30% to 19.40%. Any changes in petrol and diesel prices are implemented with effect from 6 am every day. Retail petrol, diesel prices differ from state to state on account of local taxes like VAT or freight charges.

Petrol, diesel prices in Chennai, Kolkata, Bengaluru, Lucknow, Noida, Gurugram
Mumbai: Petrol price– Rs 109.98 per litre, Diesel price – Rs 94.14 per litre

Delhi: Petrol price – Rs 95.41 per litre, Diesel price – Rs 86.67 per litre

Chennai: Petrol price – Rs 101.40 per litre, Diesel price – Rs 91.43 per litre

Kolkata: Petrol price – Rs 104.67 per litre, Diesel price – Rs 89.79 per litre

Hyderabad: Petrol price – Rs 108.20 per litre, Diesel price – Rs 94.62 per litre

Bengaluru: Petrol price – Rs 100.58 per litre, Diesel price – Rs 85.01 per litre

Lucknow: Petrol price – Rs 95.02 per litre, Diesel price – Rs 86.56 per litre

Thiruvananthapuram: Petrol price – Rs 106.65 per litre, Diesel price – Rs 93.47 per litre

Noida: Petrol price – Rs 95.51 per litre, Diesel price – Rs 87.01 per litre

Gurugram: Petrol price- Rs 95.90 per litre, Diesel price- Rs 87.11 per litre

The fuel prices across key cities were collectively revised on November 4 after the Central government cut excise duties on petrol and diesel to bring down their retail rates from their record high gains. The government reduced excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre on November 3 to give relief to consumers from record-high retail fuel prices. The centre also urged states to cut VAT on the two auto fuels, following which several states announced VAT cuts.

Crude Oil price hits 7-year high
Crude oil prices soared to their 7-year high on Tuesday amid rising tensions in the Middle east. Fearing possible supply disruptions, Brent Crude futures were up 44 cents or 0.5%, trading at $86.92 per barrel. Meanwhile, US West Texas Intermediate (WTI) crude futures were up 81 cents or 1%, sitting at $84.62 a barrel, according to Reuters.

Agencies