The fuel prices in major cities of India remained unchanged on Friday, continuing the ten-month long price stability trend, with the exception of a few regions. The prices of petrol and diesel in cities like Delhi and Mumbai did not change from the previous day, according to the Goodreturns website. However, Noida saw a minor decrease in the petrol’s prices. As per the data revised by the Oil Marketing Companies, one liter of petrol in Delhi was retailing at ₹96.72 on Friday.
The price at which the petrol or diesel dealers or distributors buy from oil marketing companies+excise duty+dealer’s commission+ value added tax levied by the state government= Petrol price.
The retail prices of petrol and diesel are revised by the Oil Marketing Companies (OMCs) like Indian Oil, Bharat Petroleum, and Hindustan Petroleum daily at 6am, in accordance with the global crude prices.
Previously, fuel prices were revised every 15 days. In 2014, Centre deregulated the price of petrol and diesel. As of 2017, the cost of fuel is updated every day.
Meanwhile, the centre recently changed the pricing formula of natural gas which resulted in the reduction of prices of CNG and cooking gas piped to household kitchens.
For all the latest business News Click Here
