Petrol, diesel revised price on October 18: Check current rates per litre in Mumbai, Delhi, Kolkata, other cities here
On Tuesday, the Centre announced the reduction of special additional excise duty (SAED) on crude petroleum from Rs 12,100 per tonne to 9,050 per tonne with effect from October 18, 2023.
- Oct 18, 2023,
- Updated Oct 18, 2023 10:42 AM IST
Petrol and diesel prices on October 18: Public sector oil marketing companies, Indian Oil, Bharat Petroleum, and Hindustan Petroleum, kept the petrol and diesel prices mostly at the same level on October 18, Wednesday, after the daily rate revision. The prices were mostly constant in cities like Delhi, Mumbai, Kolkata and Chennai.
There were minor ups and downs in states like Maharashtra, Uttar Pradesh, West Bengal, Rajasthan, Jharkhand, Kerala, Goa and Odisha. On Wednesday (October 18), the price of petrol is Rs 96.72 per liter in Delhi, while diesel is being sold at Rs 89.62 per litre.
In Mumbai, petrol demands a higher price of Rs 106.31 per liter, with diesel following suit at Rs 94.27 per litre.
In Kolkata, the cost of petrol is available Rs 106.31 per litre, 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 litre.
There was price drop in Maharashtra. The fuel price was reduced by 50 paise.
The price of petrol and diesel has decreased by 21 paise in Uttar Pradesh. The prices of petrol and diesel have also been reduced in West Bengal and Rajasthan.
Petrol and diesel have become costlier by 22 paise in Jharkhand, Kerala, Goa and Odisha.
Here is the fresh price chart for major cities:
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 96.66
Diesel: Rs 89.54
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 97.00
Diesel: Rs 89.96
Petrol: Rs 96.58
Diesel: Rs 89.75
The fuel prices are calculated after adding on a number of levies and therefore, they differ from state to state. These levies are Value Added Tax (VAT), freight charges, local taxes, etc.
The Indian government has kept the fuel rates at a steady level since last May. On May 21, 2022, Finance Minister Nirmala Sitharaman revised the excise duty and slashed it on petrol by Rs 8 per litre and Rs 6 per litre on diesel.
Since then, a few states, Punjab, Himachal Pradesh, have hiked the prices a couple of times.
Crude oil prices
On Tuesday night, the Centre announced reduction of special additional excise duty (SAED) on crude petroleum from Rs 12,100 per tonne to 9,050 per tonne with effect from October 18, 2023.
Besides, SAED or duty on diesel has been slashed by Rs 4 per litre from Rs 5 per litre and the duty on jet fuel or ATF will be lowered to Re 1 per litre from Rs 2.50 per litre currently.
India first imposed windfall profit taxes on July 1, 2022, joining a growing number of nations that tax super-normal profits of energy companies. At that time, the government levied Rs 6 per litre ($12 per barrel) on petrol and ATF and Rs 13 a litre ($26 a barrel) on diesel.
Crude oil prices gained nearly $2 in early trade on Wednesday after industry data showed a bigger-than-expected draw in US crude stocks amid worries about supply disruptions from the Middle East due to a deepening Israel-Hamas conflict. Brent crude futures jumped $1.62, or 1.8 per cent, to $91.49 a barrel at 0148, with markets also braced for Chinese GDP numbers, Reuters reported.
Crude oil showed significant volatility, rebounding from its earlier low following the release of the American Petroleum Institute's reports. According to the data, US crude oil inventories decreased by 4.4 million barrels. Additionally, crude oil prices surged in response to heightened tensions in the Middle East, stemming from a tragic incident in which 500 Palestinians lost their lives in an explosion at a Gaza City hospital on Tuesday.
"The possibility of an escalation in the Israel-Hamas conflict is bolstering crude oil prices. We anticipate that crude oil prices will continue to be marked by volatility during today's trading session. In terms of technical levels, crude oil finds support at $86.50–$85.40, while resistance is positioned at $88.60–$89.50 for today's session. In the context of INR, the support for crude oil stands at Rs 7,110-7,020, with resistance at Rs 7,290–7,350," said Rahul Kalantri, VP Commodities, Mehta Equities Ltd.
Petrol and diesel prices on October 18: Public sector oil marketing companies, Indian Oil, Bharat Petroleum, and Hindustan Petroleum, kept the petrol and diesel prices mostly at the same level on October 18, Wednesday, after the daily rate revision. The prices were mostly constant in cities like Delhi, Mumbai, Kolkata and Chennai.
There were minor ups and downs in states like Maharashtra, Uttar Pradesh, West Bengal, Rajasthan, Jharkhand, Kerala, Goa and Odisha. On Wednesday (October 18), the price of petrol is Rs 96.72 per liter in Delhi, while diesel is being sold at Rs 89.62 per litre.
In Mumbai, petrol demands a higher price of Rs 106.31 per liter, with diesel following suit at Rs 94.27 per litre.
In Kolkata, the cost of petrol is available Rs 106.31 per litre, 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 litre.
There was price drop in Maharashtra. The fuel price was reduced by 50 paise.
The price of petrol and diesel has decreased by 21 paise in Uttar Pradesh. The prices of petrol and diesel have also been reduced in West Bengal and Rajasthan.
Petrol and diesel have become costlier by 22 paise in Jharkhand, Kerala, Goa and Odisha.
Here is the fresh price chart for major cities:
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 96.66
Diesel: Rs 89.54
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 97.00
Diesel: Rs 89.96
Petrol: Rs 96.58
Diesel: Rs 89.75
The fuel prices are calculated after adding on a number of levies and therefore, they differ from state to state. These levies are Value Added Tax (VAT), freight charges, local taxes, etc.
The Indian government has kept the fuel rates at a steady level since last May. On May 21, 2022, Finance Minister Nirmala Sitharaman revised the excise duty and slashed it on petrol by Rs 8 per litre and Rs 6 per litre on diesel.
Since then, a few states, Punjab, Himachal Pradesh, have hiked the prices a couple of times.
Crude oil prices
On Tuesday night, the Centre announced reduction of special additional excise duty (SAED) on crude petroleum from Rs 12,100 per tonne to 9,050 per tonne with effect from October 18, 2023.
Besides, SAED or duty on diesel has been slashed by Rs 4 per litre from Rs 5 per litre and the duty on jet fuel or ATF will be lowered to Re 1 per litre from Rs 2.50 per litre currently.
India first imposed windfall profit taxes on July 1, 2022, joining a growing number of nations that tax super-normal profits of energy companies. At that time, the government levied Rs 6 per litre ($12 per barrel) on petrol and ATF and Rs 13 a litre ($26 a barrel) on diesel.
Crude oil prices gained nearly $2 in early trade on Wednesday after industry data showed a bigger-than-expected draw in US crude stocks amid worries about supply disruptions from the Middle East due to a deepening Israel-Hamas conflict. Brent crude futures jumped $1.62, or 1.8 per cent, to $91.49 a barrel at 0148, with markets also braced for Chinese GDP numbers, Reuters reported.
Crude oil showed significant volatility, rebounding from its earlier low following the release of the American Petroleum Institute's reports. According to the data, US crude oil inventories decreased by 4.4 million barrels. Additionally, crude oil prices surged in response to heightened tensions in the Middle East, stemming from a tragic incident in which 500 Palestinians lost their lives in an explosion at a Gaza City hospital on Tuesday.
"The possibility of an escalation in the Israel-Hamas conflict is bolstering crude oil prices. We anticipate that crude oil prices will continue to be marked by volatility during today's trading session. In terms of technical levels, crude oil finds support at $86.50–$85.40, while resistance is positioned at $88.60–$89.50 for today's session. In the context of INR, the support for crude oil stands at Rs 7,110-7,020, with resistance at Rs 7,290–7,350," said Rahul Kalantri, VP Commodities, Mehta Equities Ltd.