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HomeEconomyPetrol, diesel prices cheaper after excise duty cut; Check fuel rates...
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Petrol, diesel prices cheaper after excise duty cut; Check fuel rates in Delhi, Mumbai MPNRC

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Petrol and diesel prices in the country remained stable for more than a month on Friday, June 24. Oil marketing companies (OMCs) have kept the retail price of the fuel constant since May 21, when Union Finance Minister Nirmala Sitharaman on Friday announced a cut in excise duty. 8 per liter on petrol and Rs 6 per liter on diesel.

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On Friday, petrol consumers in Delhi will have to pay Rs 96.72 per liter, as against Rs 105.41 per liter earlier. Whereas in the national capital, diesel consumers will have to pay Rs 89.62 per liter as against Rs 96.67 per liter earlier. Petrol customers in Mumbai will have to pay Rs 111.35 per liter, while diesel customers in the financial capital will have to pay Rs 97.28 per litre. The price of petrol in Kolkata this Friday is Rs 106.03 per liter, while in the capital of West Bengal the price of diesel on Friday is Rs 92.7 per litre. The retail price of a liter of petrol in Chennai is Rs 102.63, while the retail price of a liter of diesel is Rs 94.24.

Petrol and diesel prices in the country have been revised by public sector OMCs like Indian Oil Corporation Limited (IOCL), Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL). Any changes made in the prices of petrol and diesel are implemented from 6 am daily. The revision in the price of fuel depends on several factors, including foreign exchange rates, international crude oil prices, etc. The price of petrol and diesel also varies from state to state due to local factors like state tax, VAT (value added tax), freight charges, etc.

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After a significant reduction in excise duty by the central government to bring down fuel prices, several state governments followed suit and reduced VAT on petrol and diesel. In Maharashtra, the state government reduced the local VAT on petrol by Rs 2.08 per liter and on diesel by Rs 1.44 per liter. The state government of Odisha has waived local taxes on petrol and diesel by Rs 2.23 and Rs 1.36 per liter respectively. The state government of Rajasthan also reduced VAT on petrol by Rs 2.48 per liter and on diesel by Rs 1.16 per liter. Meanwhile, the Kerala state government cut local tax on petrol and diesel prices by Rs 2.41 and Rs 1.36 per liter respectively.

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Petrol, Diesel Price in Delhi, Chennai and other major cities of India as on 24th June:

Delhi

Petrol: Rs 96.72 per liter

Diesel: Rs 89.62 per liter

Mumbai

Petrol: Rs 111.35 per liter

Diesel: Rs 97.28 per liter

Kolkata

Petrol: Rs 106.03 per liter

Diesel: Rs 92.76 per liter

Chennai

Petrol: Rs 102.63 per liter

Diesel: Rs 94.24 per liter

Bhopal

Petrol: Rs 108.65 per liter

Diesel: Rs 93.90 per liter

Hyderabad

Petrol: Rs 109.66 per liter

Diesel: Rs 97.82 per liter

Bangalore

Petrol: Rs 101.94 per liter

Diesel: Rs 87.89 per liter

Guwahati

Petrol: Rs 96.01 per liter

Diesel: Rs 83.94 per liter

Lucknow

Petrol: Rs 96.57 per liter

Diesel: Rs 89.76 per liter

Gandhinagar

Petrol: Rs 96.63 per liter

Diesel: Rs 92.38 per liter

Thiruvananthapuram

Petrol: Rs 107.71 per liter

Diesel: Rs 96.52 per litre.

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