Petrol and diesel prices remained unchanged on Thursday. According to fuel prices revised by major oil companies, petrol in Delhi was being sold at ₹96.72 per litre while the price of diesel stood at ₹89.62 per litre.
The petrol and diesel prices in Mumbai were ₹106.31 per litre and ₹94.27 per litre respectively. The Maharashtra government led by Eknath Shinde last year had cut value added tax (VAT) on petrol and diesel prices by ₹5 per litre and ₹3 per litre respectively.
“Great relief to Maharashtrian & Marathi Manus ! Happy to announce that new Government under CM Eknathrao Shinde has decided to reduce Petrol & Diesel prices by ₹5/litre & ₹3/litre respectively,” deputy chief minister Devendra Fadnavis had tweeted.
Here are the fuel prices for other major cities on July 27, 2023. Here are the fuel prices for other major Indian cities on July 27, 2023.
| CITY | PETROL PRICE (Rs/LITRE) | DIESEL PRICE (Rs |
|---|---|---|
| KOLKATA | 106.03 | 92.76 |
| AHMEDABAD | 96.63 | 92.25 |
| BENGALURU | 101.94 | 87.89 |
| BHOPAL | 108.65 | 93.90 |
| PATNA | 107.54 | 94.21 |
Petrol prices are revised daily at 6 am. The fuel prices are decided by oil marketing companies. The petrol and diesel prices are overseen by the petroleum and natural gas ministry’s petroleum planning and analysis cell.
The central government exercises control over fuel prices through excise duty. Besides the taxes, the Centre also regulates the fuel prices through base prices and cap prices at which dealers and OMCs 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. The Centre and state governments charge hefty taxes on petrol and diesel, which you pay at the petrol pump. The Centre levies excise duty, while state governments charge Value Added Tax.
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