Petrol, diesel prices on September 18: Check rates in Mumbai, Delhi and other cities

Petrol, diesel prices today | Representative picture

Prices of petrol and diesel remained unchanged across metros for the 13th consecutive day on September 18. Petrol price in Delhi was last cut to Rs 101.19 a litre and diesel to Rs 88.62 per litre.

In Mumbai, fuel prices witnessed a similar trend. The petrol price remained unchanged and retailed at Rs 107.26 a litre. The financial hub, on May 29, became the first metro in the country where petrol was being sold for more than Rs 100 per litre.

Diesel price also remained static at Rs 96.19 per litre in Maharashtra’s capital.

The fuel prices remain unchanged in Kolkata, too, where a litre of petrol and diesel were retailed at Rs 101.62 and 91.71, respectively.

Read | Petrol, diesel won’t be brought under GST regime: Finance Minister Nirmala Sitharaman

Chennai also retailed a litre of petrol at the same price - Rs 98.96. Diesel price also remained unchanged at Rs 93.26 per litre in Tamil Nadu’s capital.

The price cut follows international oil prices tumbling to their lowest level since May after the US Federal Reserve signalled it was set to start tapering asset purchases within months, hurting commodities and lifting the dollar.

India is near 85 percent dependent on imports to meet its oil needs and so benchmarks local fuel rates to international oil prices.

Also read: Petrol, diesel prices may rise as international oil rates surge

Meanwhile, the GST Council on Friday decided to continue keeping petrol and diesel out of the GST purview as subsuming the current excise duty and VAT into one national rate would impact revenues.

Including petrol and diesel under GST would have resulted in a reduction in near record-high rates.

FM Nirmala Sitharaman said the Council discussed the issue only because the Kerala High Court had asked it to do so but felt it was not the right time to include petroleum products under GST.

"It will be reported to the High Court of Kerala that it was discussed and the GST Council felt that it wasn't the time to bring the petroleum products into the GST," she said.

Central excise and state VAT (Value Added Tax) make up for almost half of the retail selling price of petrol and diesel. Bringing them under the GST would impact revenue generation for the states.

(With inputs from PTI)