Petrol and diesel prices in India continued its stable trend on Wednesday since the last fuel price revision in May 2022.
Although the centre had declared a cut in the excise duty on fuel prices last year, petrol prices continued to soar over ₹100 in major cities like Bengaluru and Mumbai.
In Delhi, petrol and diesel prices stood at ₹96.72 and ₹89.62 per litre, respectively. The value of petrol in Mumbai is ₹106.31 per litre while diesel stands at ₹94.27 per litre. A litre of petrol currently costs ₹102.63 in Chennai. The rate of diesel in the city is ₹94.24 per litre. Petrol retails at ₹106.03 per litre and diesel at ₹92.76 per litre in Kolkata.
The prices of fuel are subject to fluctuation daily according to the average price of benchmark fuel in the international market in the preceding 15 days, and foreign exchange rates.
Here are the fuel rates in other metros:
| CITY | PETROL (Rs/LITRE) | DIESEL (Rs/LITRE) |
| Lucknow | 96.57 | 89.76 |
| Bengaluru | 101.94 | 87.89 |
| Jaipur | 108.48 | 93.72 |
| Bhopal | 108.65 | 93.90 |
| Gurugram | 97.18 | 90.05 |
On Sunday, Saudi Arabia, Iraq and Russia announced a further reduction in oil output, which is likely to lead to a rise in fuel rates.
Oil prices rose in early Asian trade on Wednesday on anticipated U.S. crude inventory declines and OPEC+’s latest output cut targets.
Helping boost oil prices was an industry report showing that U.S. crude stocks fell by about 4.3 million barrels in the week ended March 31, according to market sources citing American Petroleum Institute figures on Tuesday.
(With inputs from Reuters)
