Fuel prices in the country remain unchanged for the duration of a month on Wednesday, June 22. Prices of petrol and diesel have remained steady since May 21 as Oil Marketing Companies kept prices steady ever since. Last month, Union Finance Minister Nirmala Sitharaman announced a reduction in excise duty on petrol by Rs8 per litre, and on diesel by Rs 6 per litre.
On Wednesday, the petrol price in Delhi is Rs 96.72 a litre as compared to Rs 105.41 per litre, earlier; while the retail price of diesel in Delhi is Rs 89.62 a litre as against Rs 96.67 per litre earlier. In Mumbai, consumers of petrol will have to pay Rs 111.35 per litre, while consumers of diesel in the financial capital will have to pay Rs 97.28 per litre. Petrol price in Kolkata stands at Rs 106.03 per litre, while diesel price in the capital city of West Bengal is Rs 92.7 per litre. Petrol is being retailed at Rs 102.63 per litre in Chennai, while diesel is being retailed at Rs 94.24 per litre in the capital city of Tamil Nadu.
Revision of petrol and diesel prices in India is done by public sector OMCs like Hindustan Petroleum Corporation Ltd (HPCL), Indian Oil Corporation Ltd (IOCL), and Bharat Petroleum Corporation Ltd (BPCL). Any changes made in petrol and diesel prices are implemented with effect from 6AM daily. The revision of fuel price depends on several factors including international crude oil prices and foreign exchange rates. Price of petrol and diesel is different across the states, due to local factors like state taxes, VAT (Value Added Tax), freight charges, among others.
After the central government made significant cuts in the excise duty to bring down the price of fuel prices, several state governments followed reduced VAT on petrol and diesel as well. Maharashtra state government reduced the local VAT on petrol by Rs 2.08 per litre and on diesel by Rs 1.44 per litre. The state government of Odisha also announced relaxations on local taxes on petrol and diesel by Rs 2.23 and Rs 1.36 a litre respectively. The government of Rajasthan slashed the VAT on petrol by Rs 2.48 per litre and diesel by Rs 1.16 per litre. Meanwhile, the Kerala state government reduced the local tax on the prices of petrol and diesel by Rs 2.41 and Rs 1.36 per litre respectively.
Petrol, Diesel Prices on June 22, in Delhi, Chennai and Other Major Cities in India:
Delhi Petrol: Rs 96.72 per litre Diesel: Rs 89.62 per litre
Mumbai Petrol: Rs 111.35 per litre Diesel: Rs 97.28 per litre
Kolkata Petrol: Rs 106.03 per litre Diesel: Rs 92.76 per litre
Chennai Petrol: Rs 102.63 per litre Diesel: Rs 94.24 per litre
Bhopal Petrol: Rs 108.65 per litre Diesel: Rs 93.90 per litre
Hyderabad Petrol: Rs 109.66 per litre Diesel: Rs 97.82 per litre
Bengaluru Petrol: Rs 101.94 per litre Diesel: Rs 87.89 per litre
Guwahati Petrol: Rs 96.01 per litre Diesel: Rs 83.94 per litre
Lucknow Petrol: Rs 96.57 per litre Diesel: Rs 89.76 per litre
Gandhinagar Petrol: Rs 96.63 per litre Diesel: Rs 92.38 per litre
Thiruvananthapuram Petrol: Rs 107.71 per litre Diesel: Rs 96.52 per litre.
