Fuel prices in the country remained unchanged for more than two months on Sunday, July 24. Petrol and diesel prices were reduced after Union Finance Minister Nirmala Sitharaman announced a cut in excise duty. The excise duty levied on petrol was cut by Rs 8 per litre, and it was reduced by Rs 6 per litre on diesel on May 21.
In Delhi, petrol continues to retail at Rs 96.72 per litre, while Diesel is retailing in the national capital for Rs 89.62 per litre. Petrol car consumers, in Chennai, continue to pay Rs 102.63 per litre, while diesel consumers in the capital city of Tamil Nadu are paying Rs 94.24 per litre. The retail price of one litre of petrol in Kolkata is Rs 106.03, while the retail price of a litre of diesel in the capital city of West Bengal is Rs 92.76 per litre.
Petrol and diesel consumers in Maharashtra were given good news last week, when the state government slashed the value added tax (VAT) on automotive fuels. The VAT on petrol was slashed by Rs 5 per litre and it was slashed on diesel by Rs 3 per litre in the state. Following this announcement, the retail price of petrol in Mumbai came down to Rs 106.31 per litre, while the retail price of diesel in the financial capital at Rs 94.27 per litre.
Public sector Oil Marketing Companies (OMCs) like Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) make revisions in the fuel prices. Revisions made by the OMCs are implemented from 6 am daily. There are multiple factors that contribute to the change of petrol and diesel prices. Some of the factors include foreign exchange rates, inflation, and international crude oil prices. Retail prices of fuel are different from state to state because of local taxes like VAT or freight charges.
Petrol, Diesel Prices on July 24, 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 106.31 per litre
Diesel: Rs 94.27 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.
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