Oil Price Remains Constant
Petrol and Diesel Rate: Fuel prices remain unchanged in India on 3 January 2023. Costs steady for about seven months now.
The last country-wide change in fuel rates was on 21 May last year, when Finance Minister Nirmala Sitharaman slashed excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel.
In Mumbai, petrol costs Rs 106.31 per litre and diesel is at Rs 94.27 per litre. The petrol price and diesel price in Delhi are at Rs 96.72 and Rs 89.62 per litre, respectively.
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States have also reduced VAT prices on fuels since the cut of excise duty by the central government. Fuel prices are revised in line with international benchmark prices and foreign exchange rates by public sector oil marketing companies (OMCs) including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL). Differences in Value Added Tax (VAT), freight charges, the local taxes, etc. from state to state, affect petrol and diesel prices in different cities. Any changes in petrol and diesel costs are implemented from 6 am every day.
Price rates in the cities
Petrol rate in Chennai: Rs 102.63 per litre & Diesel rate: Rs 94.24 per litre
In Kolkata, Petrol rate: Rs 106.03 per litre & Diesel rate: Rs 92.76 per litre
The Petrol rate in Bengaluru: Petrol rate: Rs 101.94 per litre & Diesel rate: Rs 87.89 per litre
Lucknow Petrol rate: Petrol rate: Rs 96.57 per litre & Diesel rate: Rs 89.76 per litre
Noida Petrol rate: Petrol rate: Rs 96.79 per litre & Diesel rate: Rs 89.96 per litre
Noida Petrol rate: Petrol rate: Rs 97.18 per litre &Diesel rate: Rs 90.05 per litre
Chandigarh Petrol rate: Petrol rate: Rs 96.20 per litre & Diesel rate: Rs 84.26 per litre
Mumbai Petrol rate: Petrol rate: Rs 106.31 per litre & Diesel rate: Rs 94.27 per litre
Petrol rate in Delhi: Petrol rate: Rs 96.72 per litre &Diesel rate: Rs 89.62 per litre
Export of petrol by Indian oil marketing companies (OMCs) rose 142% in a year between 2020-21 and 2021-22.
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