Petrol and diesel prices across the country have mostly stayed the same, even after the Centre announced a significant cut in excise duties. However, some cities have reported a slight increase in fuel prices.
Significant cut in Excise Duty announced: Petrol costs now
On Friday, the govt cut excise duty by Rs 10 per litre on both petrol and diesel. As a result, central taxes on petrol are now Rs 3 per litre, while diesel does not incur any excise duty.
India’s three major state-run oil marketing companies, Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) are still changing prices daily based on international crude oil trends and shifts in the rupee-dollar exchange rate.
Despite fluctuations in international oil markets, retail fuel prices have remained stable in most cities.
Price in different cities
Delhi
- Petrol: Rs 94.77 per litre
- Diesel: Rs 87.67 per litre
Bengaluru
- Petrol: Rs 102.96 per litre
- Diesel: Rs 90.99 per litre
Chennai
- Petrol: Rs 101.23 per litre
- Diesel: Rs 92.81 per litre
Kolkata
- Petrol: Rs 105.41 per litre
- Diesel: Rs 92.02 per litre
Hyderabad
- Petrol: Rs 107.50 per litre
- Diesel: Rs 95.70 per litre
India’s state-run oil marketing companies are facing major losses on fuel sales as global crude oil prices rise due to the US-Israeli war on Iran. Disruptions in supply lines, particularly in the Strait of Hormuz, have also contributed to the rise in oil prices.
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