Fuel prices in major cities have remained unchanged on Wednesday. The oil companies announce updated petrol and diesel rates everyday at 6am. As per the latest rates, petrol in Delhi costs ₹96.72 per liter while the price of diesel in the national capital stands at ₹ 89.62.
The cost of one liter of petrol in India’s financial capital Mumbai continue to remain ₹106.31, and for an equal quantity of diesel, customers have to pay ₹94.27. Similarly, customers in Gurugram will have to pay ₹ 97.10 for a litre of petrol and ₹ ₹ 89.96 for equal quantity of diesel.
Here are the petrol and diesel prices for top 5 cities on May 3, 2023:
| CITY | PETROL PRICE (Rs/LITRE) | DIESEL PRICE (Rs/LITRE) |
|---|---|---|
| BENGALURU | 101.94 | 87.89 |
| CHENNAI | 102.73 | 94.46 |
| JAIPUR | 108.48 | 93.72 |
| KOLKATA | 106.03 | 92.76 |
| LUCKNOW | 96.47 | 89.76 |
In India, fuel prices are decided by oil marketing companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum. Prices are determined in accordance with the price of crude oil throughout the world.
But it is not that the Centre does not have any impact on petrol and diesel prices. The Union government regulates prices through excise duty. It also controls rates via base prices and can cap rates at which dealers and OMCs deal with each other.
The prices of petrol and diesel are subject to change according to state-wise Value Added Tax (VAT), freight charges, local taxes, etc.
