Petrol and diesel prices in India have remained steady for over a year, with the latest rate revision occurring in May 2022. While these prices can differ among various states, factors like local taxes, value-added tax (VAT), freight charges, and other considerations contribute to these variations.
According to the daily 6 am price update from oil marketing companies, major cities like New Delhi, Kolkata, Mumbai, and Chennai have seen no change in petrol and diesel prices, according to the Goodreturns website.
Fuel pricing in India is regulated by the central government and is influenced by factors such as excise duty, base prices, and cap prices. The central government manages the collection of excise duty, while individual states oversee the collection of Value Added Tax (VAT). Since each state applies its own distinct VAT rates, fuel prices can differ accordingly.