Petrol and diesel prices on Tuesday maintained their stable trend. In Delhi, the national capital, petrol and diesel prices stand at ₹96.72 and ₹89.62 per litre, respectively. In Mumbai, petrol is currently priced at ₹106.31 per litre, while diesel is being sold at ₹94.27 per litre.
Every morning at 6am, Oil Marketing Companies (OMCs) update the fuel prices in accordance with the latest market trends. The government does not exercise control over these prices, and it is the responsibility of the OMCs to make necessary adjustments. The Central government regulates fuel prices through factors such as excise duty, base prices, and cap prices.
Excise duty is collected by the Centre, while the states collect VAT (Value Added Tax). Since each state has its own VAT rates, the pricing of fuel may vary accordingly.