Petrol and diesel prices on December 19: Check current rates per litre in Mumbai, Delhi, Kolkata, other cities
The Centre on Monday said it will slash the windfall profit tax applied to domestically produced crude oil and diesel exports.
- Dec 19, 2023,
- Updated Dec 19, 2023 10:08 AM IST
Petrol and diesel prices on December 19: Like most days, oil marketing companies kept the petrol and diesel prices constant or at the same level on December 19, Tuesday. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have temporarily abandoned the daily price revision of petrol, diesel since last year. The current price revision is based on additional taxes, such VAT, levied by states.
From Tuesday, the government will slash the windfall profit tax applied to domestically produced crude oil and diesel exports. In a notification on December 18, the government said the SAED on domestically produced crude oil is cut from Rs 5,000 per tonne to Rs 1,300 per tonne. The SAED on diesel exports has been scaled down from Rs 1 per litre to Rs 0.50 per litre.
Besides this, the government has augmented the levy on aviation turbine fuel (ATF) exports. The tax, previously non-existent, has been set at Rs 1 per litre. This will also be effective from December 19.
A windfall tax is imposed on domestically produced crude oil when the rates of the global benchmark exceed $75 per barrel.
India, which is the world's third-biggest oil importer and consumer, ships in over 80 per cent of its oil needs from overseas. The last country-wide revision was done on May 21, 2022, when Finance Minister Nirmala Sitharaman slashed excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel.
For more than a year, the price of petrol in Delhi has been Rs 96.72 per liter, while diesel is being sold at Rs 89.62 per litre.
In Mumbai, petrol is available for Rs 106.31 per liter, with diesel is being sold for Rs 94.27 per litre.
In Kolkata, the cost of petrol amounts to Rs 106.31 per liter, while diesel is priced at Rs 92.76 per liter. In Chennai, petrol is available at Rs 102.63 per liter, while diesel can be obtained at Rs 94.24 per liter.
Revised price chart
Petrol: Rs 101.94
Diesel: Rs 87.89
Petrol: Rs 98.65
Diesel: Rs 90.05
Petrol: Rs 102.86
Diesel: Rs 94.46
Petrol: Rs 96.84
Diesel: Rs 89.72
Petrol: Rs 106.03
Diesel: Rs 92.76
Petrol: Rs 96.57
Diesel: Rs 89.76
Petrol: Rs 106.31
Diesel: Rs 94.27
Petrol: Rs 96.72
Diesel: Rs 89.62
Noida (Gautam Buddha Nagar)
Petrol: Rs 96.59
Diesel: Rs 89.96
Petrol: Rs 96.58
Diesel: Rs 89.75
The newly formed Bharatiya Janata Party (BJP) government in Rajasthan may slash petrol rates by Rs 8-10 per litre and consider cutting diesel prices marginally by reducing value-added tax to fulfil a poll promise made before the elections, news reports said.
Last month in Bharatpur, PM Narendra Modi said there was a disparity in petrol prices between Congress-ruled Rajasthan (about Rs 109 per litre) and its BJP-ruled neighbours Uttar Pradesh, Gujarat and Haryana (approximately Rs 97 per litre). “I’m giving you this assurance that petrol pricing will be reviewed immediately after formation of the BJP government, and as soon as possible, a decision in public interest will be taken,” he had said.
Crude oil
Oil prices advanced on Tuesday, extending gains from the previous session amid clashes in the Suez Canal. The benchmark Brent crude rose 0.8 percent to $77.18 a barrel, as major shipping firms said they would be avoiding the route. Brent crude futures rose 17 cents, or 0.2 per cent, to $78.12 a barrel. The US West Texas Intermediate (WTI) crude futures contract , which expires on Tuesday, rose 14 cents to $72.61 a barrel.
Also read: Sensex, Nifty edge higher; Devyani Intl, Delta Corp, IRFC jump up to 7%
Petrol and diesel prices on December 19: Like most days, oil marketing companies kept the petrol and diesel prices constant or at the same level on December 19, Tuesday. State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have temporarily abandoned the daily price revision of petrol, diesel since last year. The current price revision is based on additional taxes, such VAT, levied by states.
From Tuesday, the government will slash the windfall profit tax applied to domestically produced crude oil and diesel exports. In a notification on December 18, the government said the SAED on domestically produced crude oil is cut from Rs 5,000 per tonne to Rs 1,300 per tonne. The SAED on diesel exports has been scaled down from Rs 1 per litre to Rs 0.50 per litre.
Besides this, the government has augmented the levy on aviation turbine fuel (ATF) exports. The tax, previously non-existent, has been set at Rs 1 per litre. This will also be effective from December 19.
A windfall tax is imposed on domestically produced crude oil when the rates of the global benchmark exceed $75 per barrel.
India, which is the world's third-biggest oil importer and consumer, ships in over 80 per cent of its oil needs from overseas. The last country-wide revision was done on May 21, 2022, when Finance Minister Nirmala Sitharaman slashed excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel.
For more than a year, the price of petrol in Delhi has been Rs 96.72 per liter, while diesel is being sold at Rs 89.62 per litre.
In Mumbai, petrol is available for Rs 106.31 per liter, with diesel is being sold for Rs 94.27 per litre.
In Kolkata, the cost of petrol amounts to Rs 106.31 per liter, while diesel is priced at Rs 92.76 per liter. In Chennai, petrol is available at Rs 102.63 per liter, while diesel can be obtained at Rs 94.24 per liter.
Revised price chart
Petrol: Rs 101.94
Diesel: Rs 87.89
Petrol: Rs 98.65
Diesel: Rs 90.05
Petrol: Rs 102.86
Diesel: Rs 94.46
Petrol: Rs 96.84
Diesel: Rs 89.72
Petrol: Rs 106.03
Diesel: Rs 92.76
Petrol: Rs 96.57
Diesel: Rs 89.76
Petrol: Rs 106.31
Diesel: Rs 94.27
Petrol: Rs 96.72
Diesel: Rs 89.62
Noida (Gautam Buddha Nagar)
Petrol: Rs 96.59
Diesel: Rs 89.96
Petrol: Rs 96.58
Diesel: Rs 89.75
The newly formed Bharatiya Janata Party (BJP) government in Rajasthan may slash petrol rates by Rs 8-10 per litre and consider cutting diesel prices marginally by reducing value-added tax to fulfil a poll promise made before the elections, news reports said.
Last month in Bharatpur, PM Narendra Modi said there was a disparity in petrol prices between Congress-ruled Rajasthan (about Rs 109 per litre) and its BJP-ruled neighbours Uttar Pradesh, Gujarat and Haryana (approximately Rs 97 per litre). “I’m giving you this assurance that petrol pricing will be reviewed immediately after formation of the BJP government, and as soon as possible, a decision in public interest will be taken,” he had said.
Crude oil
Oil prices advanced on Tuesday, extending gains from the previous session amid clashes in the Suez Canal. The benchmark Brent crude rose 0.8 percent to $77.18 a barrel, as major shipping firms said they would be avoiding the route. Brent crude futures rose 17 cents, or 0.2 per cent, to $78.12 a barrel. The US West Texas Intermediate (WTI) crude futures contract , which expires on Tuesday, rose 14 cents to $72.61 a barrel.
Also read: Sensex, Nifty edge higher; Devyani Intl, Delta Corp, IRFC jump up to 7%