Fuel Prices In Delhi, October 16: Remain Stable With Petrol At Rs 94.72 & Diesel Priced At Rs 87.62

As of today, the fuel prices in Delhi remain relatively stable, with minor fluctuations due to global crude oil prices and other factors like supply chain dynamics. The price for petrol in Delhi stands at ₹94.72 per litre, while diesel is priced at ₹87.62 per litre. These rates have been consistent for the past few weeks, as the Indian government has maintained a stable pricing strategy following previous revisions earlier this year. The pricing of fuel in India is influenced by various elements, including the international crude oil market, the value of the Indian rupee against the US dollar, and taxes levied by both the central and state governments. In Delhi, the state VAT (Value Added Tax) is a significant component that affects the final price of fuel. Additionally, the central government’s excise duty contributes to the overall cost borne by consumers. Fuel prices in India are revised daily based on the 15-day average of global oil prices, which is a dynamic pricing model. Despite the global fluctuations in oil supply and demand, especially due to geopolitical tensions and economic recoveries post-COVID, the prices in Delhi have remained relatively stable, ensuring minimal impact on the consumer’s budget. However, any sharp changes in crude oil prices or currency exchange rates could lead to future revisions.