Sep 08, 2023 08:41 AM IST
In India, petrol and diesel prices are reviewed daily. The rates, whether revised or unchanged, are announced at 6am each day.
On Friday, the prices of petrol and diesel were unchanged across major cities, including the four metros, even as minor changes were observed in case of individual cities.
Accordingly, one litre of petrol continues to retail for ₹106.31 in Mumbai, ₹106.03 in Kolkata, ₹102.63 in Chennai, and ₹96.72 in New Delhi, the national capital, according to the Goodreturns website. Diesel, on the other hand, is still available for ₹94.27, ₹92.76, ₹94.24, and ₹89.62 per litre, respectively, in the four cities.
|City||Petrol price (per litre)||Diesel price (per litre)|
Who decides fuel prices in India?
Oil marketing companies (OMCs) – Bharat Petroleum, Hindustan Petroleum, Indian Oil – decide petrol and diesel prices. The OMCs review the rates on daily basis, a practice that began in June 2017. The rates, whether revised or unchanged, are announced at 6am each day.
Why fuel prices vary from state-to-state?
This is because of factors such as value-added tax (VAT), freight charges, local taxes, etc.
Fuel prices unchanged since May 21, 2022
Petrol and diesel prices have been largely uniform since May 21 last year, when the previous nationwide revision to fuel rates was made. Since then, changes have been made only once or twice, that too by individual states.
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