Fuel prices in the country remained unchanged for the 61st consecutive day on Friday, July 22. Petrol continues to retail at Rs 96.72 per litre, while diesel stands at Rs 89.62 per litre in the national capital. Petrol consumers in Chennai continue to pay Rs 102.63 per litre, while diesel consumers in the capital city of Tamil Nadu will have to spend Rs 94.24 per litre. In Kolkata, the retail price of one litre of petrol is Rs 106.03, while the retail price of a litre of diesel in the capital city of West Bengal is Rs 92.76 per litre.
Petrol and diesel prices were reduced on May 22 after Finance Minister Nirmala Sitharaman announced a cut in excise duty. The excise duty levied on petrol was reduced by Rs 8 per litre, while it was reduced by Rs 6 per litre on diesel on May 21. It should be noted that last week the Maharashtra government announced a cut in value-added tax (VAT), bringing the price of automotive fuels lower in the state. The VAT on petrol was reduced by Rs 5 per litre and it was reduced on diesel by Rs 3 per litre in the state. After this announcement, the retail price of petrol in Mumbai has come down to Rs 106.31 per litre, while the retail price of diesel in the financial capital now stands at Rs 94.27 per litre.
Public sector Oil Marketing Companies (OMCs) like Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) are responsible to make revisions in the fuel prices. There are multiple factors including foreign exchange rates, inflation, and international crude oil price that contribute to the change in petrol and diesel prices. Retail prices of fuel vary from state to state due to several local taxes like VAT or freight charges.
Petrol, Diesel Prices on July 22, 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 106.31 per litre
Diesel: Rs 94.27 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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