Petrol and diesel prices in the country remained the same on Friday as compared to the previous day with few marginal changes in cities like Lucknow, Patna, Jaipur and Gurgaon. Fuel rates in major cities have remained same since May 21 last year, when the prices were revised.
Oil marketing companies (OMCs) such as Indian Oil, Bharat Petroleum and Hindustan Petroleum review and determine petrol and diesel prices on a daily basis. These are determined in accordance with the price of global crude oil.
The rates for each day, whether new or unchanged, are announced at 6 am on the day . These, however, vary from state-to-state due to Value Added Tax (VAT), freight charges, local taxes etc.