Business

Today, February 28, Check The Most Recent Fuel Prices In Your city

Petrol and Diesel Prices

In India, the price of petrol and diesel is updated every day. Every day at six in the morning, prices are updated. This ensures that petrol and diesel consumers and dealers can be informed of even minute changes in global oil prices.

State-owned Oil Marketing Companies (OMCs) including Bharat Petroleum, Indian Oil, and Hindustan Petroleum set fuel prices, which are then regulated by the PPAC (Petroleum Planning and Analysis Cell), a department of the Ministry of Petroleum and Natural Gas. Excise tax, value-added tax (VAT), and dealer commission are all included in the fuel price.

From state to state, VAT varies. The retail selling price of petrol increases by over a quarter when excise tax, dealer commission, and VAT are included. Numerous factors impact the cost of fuel. These include the rate at which the rupee to the US dollar is exchanged, the price of crude oil, global cues, the demand for fuel, and so on. Prices rise in India as crude oil prices rise globally.

Here is a list of petrol and diesel prices in other cities of the country:

CITY

PETROL PRICE (Rs/LITRE)

DIESEL PRICE (Rs/LITRE)

NOIDA 96.79 89.96
GURUGRAM 97.18 90.05
BENGALURU 101.94 87.89
CHANDIGARH 96.20 84.26
JAIPUR 108.48 93.72

 

Some states have reduced the VAT on fuels after Nirmala Sitharaman, the finance minister, reduced the excise duty on gasoline and diesel by 8 and 6 rupees per litre, respectively, in May 2022. Other states, like Punjab and Kerala, have levied fuel cess.

Oil was on course for its fourth consecutive monthly decline as worries over tighter monetary policy and growing US stocks outweighed hope for improving demand in the main importer China. Rising US stocks, which are at their biggest level since May 2021, have also been a drag on oil prices.

Also read: Start Of New Era: First Time In 60 Years, Nokia Changes Its Logo, Drops Down Iconic Blue Colour

 

Shruti Chaturvedi

Recent Posts

JP Nadda Slams Rahul Gandhi’s ‘Match-Fixing’ Claims As ‘Desperation Of Losing’ Polls

Rahul Gandhi's opinion piece appeared in a national daily and sparked political uproar. Opposition parties…

9 hours ago

Poverty In India Reduced Via Tangible Boost In Household Living Standards, Incomes

In 2022–23, poverty under the revised $3.00 line stood at just 5.25 per cent in…

9 hours ago

Chhattisgarh: Seven Maoists Killed In Indravati National Park Operation

Five Maoists were killed in two separate encounters with security forces in Chhattisgarh’s Bijapur district,…

10 hours ago

Carney Invites Modi To G7 Summit, Highlights India’s Global Supply Chain Role

Canadian Prime Minister Mark Carney said the most populous country, with the fifth-largest economy, must…

10 hours ago

RBI Frontloads Rate Cuts To Boost Growth Amid Low Inflation: Crisil

The Reserve Bank of India (RBI) has frontloaded its rate cuts to support economic growth,…

11 hours ago

PM Modi Urges Global Action On Coastal Resilience At Nice Summit

PM Narendra Modi on Saturday called for urgent global action to build infrastructure that can…

11 hours ago