Business

23 January 2023: Petrol-Diesel rates remain unchanged since 7 months!

23 January 2023: Petrol-Diesel price held stable on the 245th day in seven months on 23 January 2023, i.e. Monday.

Exercise Duty Reduction

Finance Minister Nirmala Sitharaman reduced the excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per litre across the country on May 21, 2023.

Petrol-Diesel Price

The petrol and diesel in Mumbai and the national capital Delhi have 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.

Whereas, in Kolkata, the cost of petrol is Rs 106.03 and that of diesel is Rs 92.76 a litre, respectively. Petrol costs Rs 102.63 per litre in Chennai while diesel costs Rs 94.24. In Bangalore, it’s Rs 101.94 for a litre of petrol and Rs 87.89 for a litre of diesel.

Lucknow: Petrol rate: Rs 96.57 per litre, Diesel rate: Rs 89.76 per litre

Noida: Petrol rate: Rs 96.79 per litre, Diesel rate: Rs 89.96 per litre

Bangalore: Petrol rate: Rs 101.94 per litre, Diesel rate: Rs 87.89 per litre

Gurugram: Petrol rate: Rs 97.18 per litre, Diesel rate: Rs 90.05 per litre

Chandigarh: Petrol rate: Rs 96.20 per litre, Diesel rate: Rs 84.26 per litre

Chennai: Petrol rate: Rs 102.63 per litre, Diesel rate: Rs 94.24 per litre

Kolkata: Petrol rate today: Rs 106.03 per litre, Diesel rate: Rs 92.76 per litre

Mumbai: Petrol rate: Rs 106.31 per litre, Diesel rate: Rs 94.27 per litre

Delhi: Petrol rate: Rs 96.72 per litre, Diesel rate: Rs 89.62 per litre

Value-Added Tax On Oil Rates

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, 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.

Also Read: 22 January 2023: No change seen in oil rates in India; check rates of metro cities

On August 24, Meghalaya increased the VAT on the fuel price resulting in petrol costing Rs 96.83 per litre in Shillong, whereas, diesel is at Rs 84.72 per litre. The city has been the last to change the fuel rates.

On January 8, 2023, the Himachal Pradesh government increased the Value-Added Tax (VAT) on diesel by Rs 3 per litre. On the other hand, the government reduced the taxes on petrol by 0.55 paise. Retail petrol and diesel prices vary from state to state, depending on several factors like freight charges, Value-Added Tax (VAT), local taxes, etc.

Alina Khan

Recent Posts

PM Modi Announces Sending Lord Buddha’s Relics To Thailand

PM Modi announced that India will send relics of Lord Buddha, discovered in Gujarat’s Aravalli…

2 hours ago

PM Modi Shares Highlights From Bangkok: A Vibrant Welcome, Community Connect, & The Ramayan!

Prime Minister Narendra Modi highlighted the deep cultural ties between India and Thailand during his…

3 hours ago

Judicial Strength At Risk, Says Delhi HC Bar Association On Justice Singh’s Transfer

With the transfers of Justices Yashwant Varma and Dinesh Sharma, the Delhi High Court now…

3 hours ago

PM Modi: Thailand Key To India’s ‘Act East’ Policy & Indo-Pacific Vision

Prime Minister Narendra Modi, during his visit to Bangkok, highlighted Thailand's strategic importance in India's…

3 hours ago

Thailand Releases Commemorative Stamp Showcasing 18th-Century Ramayan Murals During PM Modi’s Visit

Thailand unveiled a commemorative stamp featuring 18th-century Ramayan mural paintings, marking the first day of…

4 hours ago

Centuries-Old Bonds Strengthen As India-Thailand Deepen Partnership: PM Modi

PM Modi and Thai PM Paetongtarn Shinawatra elevate India-Thailand ties to a strategic partnership in…

4 hours ago