Petrol and diesel prices in India remained steady on Monday continuing the nine-month long price stability. Currently, petrol in Mumbai is being sold at ₹106.31 per litre, whereas the price of diesel in the city is ₹94.27 per litre. Petrol in Delhi costs ₹96.72 per litre while diesel is retailing at ₹89.62 per litre.
In Kolkata, a litre of petrol costs ₹106.03 and a litre of diesel costs ₹92.76. The rates of petrol and diesel in Chennai are ₹102.63 and ₹94.24 a litre, respectively.
Fuel prices were last revised in May 2022 after the Centre cut the excise duty by ₹8 per litre on petrol and ₹6 per litre on diesel. This reduced the cost of petrol and diesel by ₹9.5 and ₹7, respectively. In July 2022, Maharashtra government cut the value added tax (VAT) on petrol and diesel by ₹5 and ₹3 per litre.
Here are the fuel rates in other cities:
| CITY | PETROL (Rs/LITRE) | DIESEL (Rs/LITRE) |
| JAIPUR | 108.48 | 93.72 |
| LUCKNOW | 96.57 | 89.76 |
| BENGALURU | 101.94 | 87.89 |
| BHOPAL | 108.65 | 93.90 |
| PATNA | 108.12 | 94.86 |
Fuel rates differ from state to state depending upon the local taxes. Factors like Value Added Tax (VAT) and freight charges also play a role in the changes to fuel rates, if any.
Every day at 6 am public sector oil marketing companies Bharat Petroleum Corporation Ltd, Indian Oil Corporation Ltd, and Hindustan Petroleum Corporation Ltd change fuel prices as per foreign exchange rates and international benchmark prices.
Last month, the Centre slashed windfall tax on domestically-produced crude oil, as well as on the export of diesel and aviation turbine fuel (ATF). The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) was cut to ₹4,350 per tonne from ₹5,050 per tonne. The levy on petrol continues to be nil.
On Monday, oil prices slipped again and are nursing losses of almost 10% for the month as worries about global growth undermine commodities in general, according to Reuters.
