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Prices for gasoline and diesel remained stable on February 11 as oil marketing organisations (OMCs) maintained price stability. Petrol is currently priced at Rs 95.41 per litre in the National Capital, while diesel is priced at Rs 86.67 per litre. In Mumbai, a litre of petrol costs Rs 109.98 and a litre of diesel costs Rs 94.14.

Since the central government slashed excise duty to bring retail rates down from record highs in November last year, fuel costs have remained constant. Fuel prices are revised daily by public sector OMCs such as Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL), and Hindustan Petroleum Corporation Ltd (HPCL) in accordance with international benchmark pricing and foreign exchange rates.

While international oil prices remain fluctuating, OMCs have neither hiked or lowered petrol and diesel tariffs in almost two months. The most recent change in fuel and diesel prices occurred on December 1 in Delhi, when the city administration decreased the Value-Added Tax (VAT) on petrol from 30% to 19.40%. Every day at 6 a.m., any adjustments in gasoline and diesel prices take effect. Retail gasoline and diesel prices vary by state due to local taxes such as VAT and freight charges.

Petrol, diesel prices in various Indian states abd UT’S:

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

Chandigarh: Petrol Price – Rs 94.23 per lire, Diesel price – Rs 80.90 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

On November 4, fuel prices in major cities were collectively updated after the Central government reduced excise levies on gasoline and diesel to bring retail rates down from record highs. On November 3, the government cut excise duty on petrol by Rs 5 per litre and diesel by Rs 10 per litre to help customers cope with record-high retail gasoline prices. The centre also asked governments to reduce VAT on the two car fuels, prompting numerous states to do so.

The price of crude oil has dropped. 

Crude oil prices fell on Friday morning as investors reacted to rising inflation in the United States. Brent crude futures were trading at $91.01 a barrel, down 40 cents. Meanwhile, according to Reuters, US West Texas Intermediate (WTI) crude futures slid 25 cents to $89.63 a barrel.

Also read : In Jharkhand, CM Hemant Soren declared that petrol and diesel will be cheaper by Rs 25