Fuel prices remained unchanged for the 19th consecutive day on Tuesday. The government cut excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre on November 3 to give relief to consumers battered by record-high retail fuel prices.
At the moment, the cost of one litre of petrol in Delhi stands at Rs 103.97 per litre and of diesel at Rs 86.67 per litre As for Mumbai, India’s financial capital, petrol and diesel prices have cost Rs 109.98 per litre and Rs 94.14 per litre respectively.
In the other two metros, Kolkata and Chennai, the price of petrol remains above Rs 100. While petrol and diesel in Kolkata cost Rs 104.67 and Rs 89.79 per litre, the same costs Rs 101.40 and Rs 91.43 a litre in Chennai.
Despite the reduction in prices, petrol rates are still above the Rs 100 per litre mark across the four metros and several cities in the country. Among the metro cities, fuel rates are the highest in Mumbai.
Congress-ruled Punjab has seen the biggest reduction in the price of petrol in the country after it cut local sales tax or VAT the most while UT of Ladakh witnessed the largest reduction in diesel rates for the same reason.
Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.
The divergence in prices between cities is due to various local VAT charges in different cities. Petrol and Diesel prices are fixed on the basis of freight charges, local taxes, and VAT. Petrol price still sits above the Rs 100-a-litre mark in Delhi, Rajasthan, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu and Kashmir, Odisha, Tamil Nadu, and some cities of Bihar and Punjab.