Petrol and diesel prices remained unchanged on Sunday, December 12, 2021. Earlier, the Delhi government had reduced value-added tax (VAT) on petrol from 30 per cent to 19.40 per cent. As a result, petrol prices in the national capital were slashed by ₹ 8.56 per litre. One litre of petrol now costs ₹ 95.41 from ₹ 103.97 earlier. However, diesel prices were kept unchanged at ₹ 86.67 in Delhi.
In Mumbai, petrol is retailed at ₹ 109.98 per litre, while diesel is being sold at ₹ 94.14 per litre. Among the metro cities, fuel rates are still the highest in Mumbai. The rates vary across the states due to VAT. (Also Read: How To Check Latest Petrol And Diesel Rates In Your City).
State-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum revise the fuel rates on a daily basis, by taking into account the crude oil prices in the international markets, and the rupee-dollar exchange rates. Any changes in petrol and diesel prices are implemented with effect from 6 am every day.
Oil prices rose slightly on Friday, December 10 and posted their biggest weekly gain since late August, with market sentiment buoyed by easing concerns over the Omicron coronavirus variant’s impact on global economic growth and fuel demand.