Sep 16, 2023 09:14 AM IST
The Centre controls fuel prices through excise duty, base and cap prices at which dealers and oil companies deal with each other.
Petrol and diesel prices remained unchanged on Saturday. The oil marketing companies revise the fuel rates everyday at 6 am. As per the revised prices, petrol and diesel rates in Delhi stood at ₹96.72 per litre and ₹89.62 per litre respectively.
Here are the petrol and diesel prices for other major cities on September 16, 2023.
As mentioned earlier, the petrol and diesel prices are revised daily at 6 am. The prices are decided by top oil marketing companies. The Centre controls fuel prices through excise duty, base and cap prices at which dealers and oil companies deal with each other.
The fuel prices in India are not under goods and service tax. While the Centre collects excise duty, the state governments collect VAT. Since VAT is different for each state, hence the pricing.
Last year, the Narendra Modi government cut central excise duty on petrol by ₹8 per litre and on diesel by ₹6 per litre, resulting in reduction of price of petrol by ₹9.5 per litre and of diesel by ₹7 per litre.
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