Petrol and Diesel prices in the country remain steady for over a month on Friday, June 24. Oil Marketing Companies (OMCs) have kept the retail price of fuel steady since May 21 when the Union Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by Rs 8 per litre, and on diesel by R s6 per litre.
On Friday, the petrol consumers in Delhi will have to pay Rs 96.72 a litre as compared to Rs 105.41 per litre, earlier; while the diesel consumers in the national capital will be paying Rs 89.62 a litre as against Rs 96.67 per litre earlier. Petrol customers in Mumbai will be paying Rs 111.35 per litre, while diesel customers in the financial capital will be paying Rs 97.28 per litre. In Kolkata, petrol price this Friday is at Rs 106.03 per litre, while diesel price in the capital city of West Bengal on Friday is Rs 92.7 per litre. Retail price of one litre of petrol in Chennai is Rs 102.63, while the retail price of one litre of diesel is Rs 94.24.
Petrol and diesel prices in the country are revised by public sector OMCs like Indian Oil Corporation Ltd (IOCL), Hindustan Petroleum Corporation Ltd (HPCL), and Bharat Petroleum Corporation Ltd (BPCL). Any changes made in the prices of petrol and diesel are implemented with effect from 6AM daily. The revision of fuel price depends on several factors including foreign exchange rates, international crude oil prices, among others. Price of petrol and diesel is also 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 also followed suit and slashed VAT on petrol and diesel. In Maharashtra, the state government slashed 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 made relaxations on local taxes on petrol and diesel by Rs 2.23 and Rs 1.36 a litre respectively. The state government of Rajasthan also slashed the VAT on petrol by Rs 2.48 per litre and diesel by Rs 1.16 per litre. Meanwhile, the Kerala state government made reductions in 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 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 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.
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