Petrol and diesel prices in India remained steady on Monday, continuing nine months of price stability. Currently, petrol in Mumbai is selling at ₹ 106.31 per liter while diesel price in the city is ₹ 94.27 per litre. Petrol in Delhi costs ₹96.72 per liter while diesel is sold at ₹89.62 per litre.
In Kolkata, a liter of petrol costs ₹106.03, and a liter of diesel costs ₹92.76. Petrol and diesel rates in Chennai are ₹ 102.63 and ₹ 94.24 per litre.
Fuel prices were last revised in May 2022 after the Center reduced excise duty by ₹8 per liter on petrol and ₹6 per liter on diesel. This reduced the cost of petrol and diesel by ₹9.5 and ₹7 respectively. In July 2022, the Maharashtra government reduced the value-added tax (VAT) on petrol and diesel by ₹5 and ₹3 per litre.
Here are fuel prices in other cities:
CITY PETROL (Rs/LITRE) DIESEL (Rs/LITRE)
JAIPUR 108.48 93.72
LUCKNOW 96.57 89.76
BENGALURU 101.94 87.89
BHOPAL 108.65 93.90
PATNA 108.12 94.86
Fuel rates vary from state to state depending on local taxes. Factors such as Value Added Tax (VAT) and freight charges also play a role in fuel rate changes, if any.
Every day at 6 am, public sector oil companies Bharat Petroleum Corporation Ltd, Indian Oil Corporation Ltd, and Hindustan Petroleum Corporation Ltd change fuel prices according to exchange rates and international benchmark prices.
The Center last month reduced the windfall tax on domestically produced crude oil and also on exports of diesel and aviation turbine fuel (ATF).
The levy on oil produced by companies such as Oil and Natural Gas Corporation (ONGC) has been reduced to ₹4,350 per tonne from ₹5,050 per tonne. The petrol fee is still zero.
Oil prices fell again on Monday, losing nearly 10% on the month, according to Reuters, as concerns about global growth generally undermined commodities.
at 6 am public sector oil marketing companies Bharat Petroleum Corporation Ltd, Indian Oil Corporation Ltd, and Hindustan Petroleum Corporation Ltd change fuel prices as per foreign exchange rates and international benchmark prices.
Last month, the Centre slashed windfall tax on domestically-produced crude oil, as well as on the export of diesel and aviation turbine fuel (ATF). The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) was cut to ₹4,350 per tonne from ₹5,050 per tonne. The levy on petrol continues to be nil.
On Monday, oil prices slipped again and are nursing losses of almost 10% for the month as worries about global growth undermine commodities in general, according to Reuters.