On Wednesday, oil marketing companies (OMCs) have kept petrol and diesel prices unchanged in most places, including the four metros, while minor changes have been made for individual cities.
Accordingly, one litre petrol continues to retail for ₹106.31 in Mumbai, ₹106.03 in Kolkata, ₹102.74 in Chennai, and ₹96.72 in national capital New Delhi, as per the Goodreturns website. On the other hand, an equal quantity of diesel comes for ₹94.33 (Chennai), ₹94.27 (Mumbai), ₹92.76 (Kolkata), and ₹89.62 (New Delhi).
|City||Petrol price (per litre)||Diesel price (per litre)|
Petrol and diesel prices in the country have been largely uniform since May 21 last year, when the Union government reduced the central excise duty on petrol by ₹8 per litre, and ₹6 per litre for diesel.
Who decides fuel prices in India?
This is done by OMCs – Bharat Petroleum, Hindustan Petroleum, Indian Oil – which review fuel rates daily, a practice that began in June 2017. The new rates, whether revised or unchanged, are announced at 6am each day.
Why fuel prices vary across states?
This is because of factors such as value-added tax (VAT), freight charges, local taxes, etc.