The fuel prices in major cities of India remained unchanged on Monday, continuing the year-long price stability trend.
The prices of petrol and diesel in cities like Delhi and Mumbai did not change from the previous day.
Petrol and diesel in the national capital Delhi were retailing ₹96.72 per litre and ₹89.62 a litre, respectively, while in the financial capital Mumbai, petrol is being sold at 106.31 per litre, while diesel at ₹94.27 per litre.
Here is a list of petrol and diesel prices in major Indian cities:
CITY PETROL (Rs/LITRE) DISEAL (Rs/LITRE)
Kolkata 106.03 92.76
Chennai 102.63 94.24
Gurgaon 97.04 89.91
Noida 96.65 89.82
Bengaluru 101.94 87.89
In India, fuel prices are decided by oil marketing companies like HPCL, BP and IOCL. They are not controlled by the government and adjust their rates as per global prices.
But it is not that the Centre does not have any impact on petrol and diesel prices. The Union government regulates prices through excise duty. It also controls rates via base prices and can cap rates at which dealers and OMCs deal with each other.
The price at which the petrol or diesel dealers or distributors buy from oil marketing companies+excise duty+dealer’s commission+ value added tax levied by the state government= Petrol price.
The fuel prices in India are not under goods and service tax. While the Centre collects excise duty, the state governments collect VAT. Since VAT is different for each state, hence the pricing.