Petrol, Diesel prices for August 18: Check current rates per litre in Delhi, Mumbai, Chennai, Kolkata, other cities here

Petrol and diesel prices on August 18: Indian oil companies have kept the petrol and diesel prices on Friday in all major cities almost at the same level with minor tweaks.  

On Friday, after the daily revision of prices, petrol in Delhi is available for Rs 96.72 a litre, while diesel is being sold at Rs 89.62 a litre. In Mumbai, petrol can be bought for Rs 106.31 and diesel at Rs 94.27 per litre.  

While petrol in Kolkata is Rs 106.03 and diesel is Rs 92.76 per litre. In Chennai, petrol is being sold at Rs 102.63 and diesel at Rs 94.24 per litre.

Bengaluru     

Petrol: Rs 101.94     

Diesel: Rs 87.89 

Chandigarh     

Petrol: Rs 98.65     

Diesel: Rs 88.95 

Chennai    

Petrol: Rs 102.86     

Diesel: Rs 94.46 

Gurugram     

Petrol: Rs 97.04     

Diesel: Rs 89.91 

Kolkata     

Petrol: Rs 106.03     

Diesel: Rs 92.76 

Lucknow     

Petrol: Rs 96.43     

Diesel: Rs 89.65 

Mumbai    

Petrol: Rs 106.31   

Diesel: Rs 94.27 

New Delhi     

Petrol: Rs 96.72     

Diesel: Rs 89.62 

Noida  (Gautam Buddha Nagar)   

Petrol: Rs 96.79     

Diesel: Rs 89.96    

Ghaziabad

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 last pan-India revision was done in May 2022, when Finance Minister Nirmala Sitharaman reduced the excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel on May 21, 2022.    

The Narendra Modi-led government is considering a plan to reduce taxes applicable on petrol prices in addition to easing import tariffs on expensive items like cooking oil and wheat.

A Bloomberg News report, quoting people familiar with the matter, suggested that government officials are considering a plan to reallocate as much as Rs 1 lakh crore from the budgets of various ministries to contain surging food and fuel costs.

On Independence Day, PM Narendra Modi vowed to bring down rising inflation in the country.

A decision on the fund reallocation will be taken by PM Modi in the coming weeks, and the measures could include lower taxes on fuel and easing import tariffs on cooking oil and wheat, the report said.

Crude oil prices

Oil prices looked set to snap a seven-week winning streak on Friday as concerns about demand growth in China as its economy slows, and the possibility of higher for longer US rates triggered losses. Major benchmarks were little changed on Friday, with the US West Texas Intermediate crude up 10 cents, or 0.1 per cent, at $80.49 a barrel, while Brent crude was flat at $84.12 a barrel, Reuters reported.

But some turnaround can be expected as China made a rare draw on crude oil inventories in July, the first time in 33 months that it has dipped into storage.