Petrol and diesel prices on April 12

The price of petrol in Delhi stands at Rs 105.41 per litre while that of diesel is at Rs 96.67. In Mumbai, petrol currently costs Rs 120.51, while diesel is retailing at Rs 104.77, data available on Indian Oil Corporation’s website showed.

So far in April, both petrol and diesel have been hiked by Rs 3.60 per litre in the national capital. Last month, they were raised by Rs 6.40 per litre after witnessing nine hikes in a span of ten days when daily revisions in auto fuel prices resumed following a gap of a record 137 days on March 22.

Petrol and diesel prices in the country differ from state to state depending on the local taxation (VAT) and freight charges. Apart from this, the central government charges an excise duty on auto fuels.

Generally, the OMCs revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15-days and foreign exchange rates.

In the international market, oil prices climbed on Tuesday as fears of a demand downturn in China eased after Shanghai relaxed some COVID-19 related restrictions, and OPEC warned it would be impossible to increase output enough to offset lost Russian supply, news agency Reuters reported.

Brent crude futures were up $1.72 (1.75 per cent) to $100.20 a barrel, and US West Texas Intermediate contracts were up $1.76 (1.87 per cent) to $96.05 a barrel. Both contracts had settled down around 4 per cent on Monday, the report said.

Here’s what you pay for a litre of petrol and diesel in your city on Tuesday, April 12, 2022: