Petrol and diesel prices were constant on Friday, 21 April across major cities including New Delhi, Kolkata, Mumbai, and Bengaluru. However, petrol has become cheaper by 27 paise to Rs 96.65 a litre in UP’s Gautam Buddha Nagar (Noida-Greater Noida) and diesel is being sold at Rs 89.82 a litre after falling by 26 paise today. Petrol became costlier by 32 paise in Ghaziabad today and reached Rs 96.58 a litre, while diesel has increased by 30 paise and is being sold at Rs 89.75 a litre. This week cities across the country have witnessed fluctuations in fuel prices. Yesterday, in Jaipur, diesel rates rose Rs 0.36 per litre to Rs 93.72, while petrol prices jumped 40 paise to Rs 108.48 per litre. Guwahati, Nashik, Thane, and Varanasi saw the prices of fuel fall, while prices increased up to 91 paise per litre in cities like Ranchi, Rajkot, Nagpur, Mysore and Bhopal.
The prices of petrol and diesel change state by state, depending upon various criteria such as Value Added Tax (VAT), freight charges, local taxes, etc. The last country-wide change in fuel rates was on 21 May last year, when Finance Minister Nirmala Sitharaman slashed excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel. Since the cut of excise duty by the central government in May 2022, some states have also reduced VAT prices on fuels, while some have imposed cess on petrol and diesel.
The Punjab government decided to impose a cess of 90 paise per litre on petrol and diesel in a meeting of the state cabinet. Kerala Finance Minister KN Balagopal also announced a cess on petrol, diesel and liquor in the second full budget of the LDF government. A social security cess of Rs 2 per litre will be slapped on petrol and diesel.
Petrol, diesel prices in Chennai, Kolkata, Bengaluru, Lucknow, Noida, Gurugram
- Bengaluru: Petrol rate: Rs 101.94 per litre, Diesel rate: Rs 87.89 per litre
- Chandigarh: Petrol rate: Rs 96.20 per litre, Diesel rate: Rs 84.26 per litre
- Chennai: Petrol rate: Rs 102.86 per litre, Diesel rate: Rs 94.46 per litre
- Gurugram: Petrol rate: Rs 96.92 per litre, Diesel rate: Rs 89.79 per litre
- Kolkata: Petrol rate: Rs 106.03 per litre, Diesel rate: Rs 92.76 per litre
- Lucknow: Petrol rate: Rs 96.54 per litre, Diesel rate: Rs 89.63 per litre
- Mumbai: Petrol rate: Rs 106.31 per litre, Diesel rate: Rs 94.27 per litre
- New Delhi: Petrol rate: Rs 96.72 per litre, Diesel rate: Rs 89.62 per litre
Public sector Oil Marketing Companies (OMCs) including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise their prices daily in line with international benchmark prices and forex rates. Any changes in petrol and diesel costs are implemented from 6 am every day. Oil Minister Hardeep Singh Puri recently asked OMCs to cut the retail prices of petrol and diesel if the crude oil prices in the international market come down and also if OMCs under recovery come down. OMCs incurred a loss of Rs 21,200 crore on account of selling petrol and diesel below the cost price.
Source:financialexpress.com