Petrol and diesel prices remained steady on Monday, continuing their stable trend. In the national capital, Delhi, petrol is priced at ₹96.72 per litre, while diesel stands at ₹89.62 per litre. Moving to Mumbai, petrol is currently available at ₹106.31 per litre, while diesel is being sold at ₹94.27 per litre.
At 6 am every morning, Oil Marketing Companies (OMCs) revise fuel prices based on current market trends. The government does not directly control these prices, as it is the OMCs’ responsibility to make the required adjustments.
Fuel prices are regulated by the central government through factors like excise duty, base prices, and cap prices. Centre collects excise duty, while VAT (Value Added Tax) is collected by individual states. As each state has its own VAT rates, fuel prices may vary accordingly.