Petrol and diesel prices remained unchanged in several Indian cities on July 1. The fuel prices are revised daily at 6 am by the oil marketing companies.
According to the fuel prices announced by the oil marketing companies, petrol was being sold in Delhi at ₹96.72 per litre while the cost of diesel stood at ₹89.62 per litre. In Mumbai, petrol and diesel prices stood at ₹106.31 per litre and ₹94.27 per litre.
Here are the petrol and diesel prices for major Indian cities on July 2, 2023.
The petrol prices are decided by oil marketing companies in India. The Centre exercises control through excise duty. It also regulates prices through base prices and the cap prices at which the oil companies and dealers deal with each other.
The fuel prices in India don’t come 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.