Fuel rates have been kept unchanged by oil marketing companies (OMCs) on third day of the week. Prices have remained largely steady across all major cities since May 21 last year, when the previous pan-India price revision was made.
On Wednesday, customers in Delhi will have to pay ₹96.72 for a litre of petrol and ₹89.62 for an equal quantity of diesel. Similarly, people in Mumbai will have to pay ₹106.31 for one litre of petrol and ₹94.27 for diesel. Here are the rates, meanwhile, for other major cities:
| Cities | Petrol | Diesel |
| Kolkata | ₹106.03 | ₹92.76 |
| Noida | ₹97 | ₹89.75 |
| Bengaluru | ₹101.94 | ₹87.89 |
| Chennai | ₹102.73 | ₹ ₹94.68 |
| Jaipur | ₹108.54 | ₹93.77 |
| Lucknow | ₹96.62 | ₹89.81 |
| Hyderabad | ₹109.66 | ₹97.82 |
| Patna | ₹107.24 | ₹94.04 |
| Trivandrum | ₹109.73 | ₹98.53 |
How do OMCs determine fuel prices?
OMCs such as Indian Oil, Bharat Petroleum and Hindustan Petroleum review and determine petrol and diesel prices on a daily basis. These are determined in accordance with the price of crude oil throughout the world.
Why fuel prices vary across states?
The rates for each day, whether new or unchanged, are announced at 6 am on the day . These, however, vary from state-to-state; this is due to criteria such as Value Added Tax (VAT), freight charges, local taxes etc.
For all the latest business News Click Here
