Fuel Price Remains Constant
Fuel (petrol and diesel) prices in India have mostly remained unchanged, and prices have remained stable for the last seven months on 2 January 2023. However, price of crude oil has seen several changes since May 2022. Union Finance Minister Nirmala Sitharaman on May 21th 2022, reduced the excise duty on petrol by ₹8 per litre and on diesel by ₹6 per litre across the entire country. In Delhi, the cost of petrol is ₹96.72 and that of diesel is ₹89.62 a litre, respectively. Petrol costs ₹106.31 per litre in Mumbai while diesel costs ₹94.27.
Fuel Price In The Cities
Amid the constant fuel prices, cities like Mumbai and the national capital Delhi has Petrol rates at Rs 106.31 per litre and Rs 96.72 per litre respectively. Diesel costs about Rs 94.27 per litre and Rs 89.62 per litre respectively.
In Kolkata, the cost of petrol is ₹106.03 and that of diesel is ₹92.76 a litre, respectively. Petrol costs ₹102.63 per litre in Chennai while diesel costs ₹94.24. In Bengaluru, it’s ₹101.94 for a litre of petrol and ₹87.89 for a litre of diesel.
|
City |
Petrol |
Diesel |
| Bengaluru | 101.94 | 87.89 |
| Bhubaneswar | 103.19 | 94.76 |
| Chandigarh | 96.2 | 84.26 |
| Chennai | 102.63 | 94.24 |
| Gurgaon | 96.84 | 89.72 |
| Hyderabad | 109.66 | 97.82 |
| Jaipur | 109.39 | 94.55 |
| Kolkata | 106.03 | 92.76 |
| Lucknow | 96.33 | 89.53 |
| Mumbai | 106.31 | 94.27 |
| New Delhi | 96.72 | 89.62 |
| Noida | 96.59 | 89.76 |
| Patna | 107.24 | 94.04 |
| Thiruvananthapuram | 107.71 | 96.52 |
Also Read: LPG Price Hike: OMCs Increase The Price Of LPG Cylinder Ahead The Start Of 2023
VAT On Fuel Prices
Any changes in petrol and diesel costs are implemented from 6 am every day. The prices of petrol and diesel change state by state, depending upon various criteria such as Value Added Tax (VAT), freight charges, the local taxes, etc. Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise their prices daily in line with international benchmark prices and forex rates.
Since the central government reduced excise duty, some states have reduced VAT prices on fuels.
On August 24, Meghalaya increased the VAT on the fuel price resulting petrol to cost Rs 96.83 per lite in Shillong, whereas, diesel is at Rs 84.72 per litre. The city has been the last to change the fuel rates.
-Bharat Express
