Petrol Rate On July 16 2023: Updated Petrol And Diesel Prices In Major Cities

Petrol Rate On July 16 2023: On Sunday, fuel prices in Indian cities remained essentially unchanged. The prices of propane and diesel in major cities such as Delhi, Mumbai, Kolkata, and Chennai did not change.

In Delhi, the price per litre of petrol and diesel is 96.72 and 89.62, respectively. In Mumbai, the price of a litre of petrol remained above 100 at 106.31, while diesel costs 94.27. One litre of fuel costs 106.03 in Kolkata, compared to 102.63 in Chennai. In these cities, one litre of diesel will cost clients 92.76 and 94.24.

Each day’s unleaded and diesel prices, whether new or unchanged, are announced at 6 a.m. These vary from state to state due to value-added tax (VAT), freight fees, and local taxes, among other factors. On July 16, the price of petrol in Delhi is 96.72 per litre, while diesel costs 89.62 per litre.

Petrol Rate On July 16 2023: Updated Petrol And Diesel Prices In Major Cities

Fuel prices have remained unchanged since May 2022, when the federal government and a number of states reduced fuel taxes.

In India, oil marketing companies (OMCs) Bharat Petroleum, Hindustan Petroleum, and Indian Oil revise petrol and diesel prices daily at 6 a.m., regardless of whether the prices have changed or remained the same.

On Friday, oil prices dropped by more than a dollar per barrel as the dollar strengthened and oil traders booked profits from a strong rally, with crude benchmarks registering their third consecutive weekly gain. After supply disruptions in Libya and Nigeria heightened concerns that markets will tighten in the future months, oil prices increased by nearly 2% per week. Moreover, Russian oil exports have decreased significantly, and if this trend persists next week, it is likely that prices will increase further.

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