Petrol, Diesel Prices Today, October 22: Check City-Wise Rates In Delhi, Mumbai, Bengaluru And More

(MENAFN- AsiaNet News)

Petrol and diesel prices remained largely unchanged across major Indian cities on Thursday, October 22. Fuel prices are revised daily at 6 am under India's dynamic fuel-pricing system. Indian Oil Corporation (IOC) says daily price changes are effected at 6 am, while the retail price can vary between cities because of taxes and other local costs.

Petrol, Diesel Price on October 22

City	Petrol	Diesel
Delhi	Rs 102.12	Rs 95.20
Mumbai	Rs 111.21	Rs 97.83
Bengaluru	Rs 111.68	Rs 99.56
Kolkata	Rs 113.51	Rs 99.82
Hyderabad
Chennai	Rs 107.76	Rs 99.55

Why Do Petrol And Diesel Prices Differ Across Cities?

State-level taxes, including VAT, transportation expenses, and dealer commissions are the major reasons why petrol and diesel prices differ between states. Since petrol and diesel are not yet subject to the GST, state taxes nevertheless have a significant influence on retail fuel costs.

The rupee-dollar exchange rate and the price of crude oil globally are other significant variables. The cost of petroleum products can be impacted by changes in the currency and global crude prices because India imports a significant portion of its crude oil needs.

The rupee's value in relation to the US dollar, shifts in state-level levies, and fluctuations in global crude oil prices are some of the most important variables that consumers should keep an eye on for their possible influence on retail gasoline costs. Despite recent volatility, global oil prices have remained high in September due to geopolitical unpredictability.

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