Petrol, Diesel Become Cheaper After Centre Slashes Excise Duty. Know Fuel Rates Today

Gasoline prices, diesel on Friday: the price of gasoline, and diesel remains unchanged on Friday, May 27. Oil marketing companies have released new rates for gasoline and diesel at 6 am today. Although crude oil crosses $ 117 per barrel, there is relief on Friday for consumers because for the fifth day the price has not been changed. Gasoline in Delhi is RS 96.72 per liter and Diesel stands at RS 89.62. The cheapest gasoline in Port Blair is RS 84.10 and Diesel is RS 79.74 per liter. Meanwhile, even today, the most expensive gasoline in this country is RS 114.38 per liter in Parbhani in Maharashtra. In Mumbai, gasoline is currently the price of RS 111.35, while diesel is sold at RS 97.28 prices, the data available on the Indian Oil Corporation website is shown.

The level of gasoline and, Diesel has seen a sharp reduction after last week Minister of Finance Nirmala Sitharaman announced the alignment of excise on gasoline of 8 per liter, and 6 rupees per liter on diesel. Following the government’s decision, the price of gasoline was cut by RS 8.69 per liter while diesel was reduced by RS 7.05 in the national capital.

Furthermore, the Government of the State of Maharashtra, Rajasthan and Kerala also reduced VAT on gasoline and diesel after the Sitharaman call to provide further assistance to consumers after Customs cutting by the Center.

The price of gasoline and diesel in the country is different from one country to state depending on local tax (VAT) and shipping costs. Apart from this, the central government demands excise tax on car fuel.

OMC generally revise gasoline and diesel levels every day based on average fuel prices in the international market in the previous 15 days and foreign exchange rates.

In the global market, oil prices fell on Friday, breaking a cautionus rally streak this week on signs of tight supply while the european union wrangles with hungary over plans to ban imports from russia, the world’s , Reuters news agency reported.

The oil price subsided slightly in the early Asian trade on Friday, after jumping to two months in the previous session because investors focused on signs of strict global supply. Brent Crude Futures dropped 11 cents to $ 117.29 per barrel by 0:08 GMT. Raw WTI Futures for July Delivery dropped 19 cents to $ 113.90 per barrel.