Petrol and diesel prices in India have maintained their steady course for over a year, with the most recent rate revision occurring in May 2022. While these prices can vary among different states, factors such as local taxes, value-added tax (VAT), freight charges, and other considerations contribute to these differences.
As per the daily 6 am price update provided by oil marketing companies, prominent cities like New Delhi, Kolkata, Mumbai, and Chennai have witnessed unchanged petrol and diesel prices. This information has been reported by the Goodreturns website.
The pricing of fuel in India falls under the regulatory purview of the central government, influenced by a combination of factors, including excise duty, base prices, and cap prices. The collection of excise duty is managed by the central government, while individual states oversee the collection of Value Added Tax (VAT). Since each state employs its own distinct VAT rates, fuel prices may vary accordingly.