According to the most recent price notification by fuel retailers, petrol and diesel prices have been unchanged on June 14 in major cities, and costs have been steady for a year now.
However, the prices of petrol and diesel change state by state, depending upon various criteria such as Value Added Tax (VAT), freight charges, the local taxes, etc.
Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd. (IOCL) and Hindustan Petroleum Corporation Ltd. (HPCL) revise their prices daily in line with international benchmark prices and forex rates.
In Delhi, petrol and diesel cost Rs 96.72/litre and Rs 89.62/litre, respectively.
In Mumbai, petrol is being sold for Rs 106.31/litre and diesel for Rs 94.27/litre.
Petrol and diesel are priced at Rs 102.63/litre and Rs 94.24/litre in Chennai and at Rs 106.03/litre and Rs 92.76/litre in Kolkata, respectively.
The government of Punjab on Sunday has increased the Value Added Tax (VAT) on petrol and diesel by 92 paise and 88 paise respectively for retail consumers. Petrol in Punjab would now cost Rs 98.65 per litre whereas Diesel would cost Rs 105.24 per litre respectively. This hike is part of the government's additional resource mobilisation drive.
The last country-wide change in fuel rates was on 21 May last year, when Finance Minister Nirmala Sitharaman slashed excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel.
You can check petrol and diesel prices from the comfort of your own home. All you need to do is send a message from your phone to 9224992249 with your city code. City codes are available on Indian Oil's website.
Oil prices on Wednesday morning traded higher as industry data showed an unexpected rise in US crude stocks. This indicates weak demand and comes in addition to the worries regarding recession and disappointing Chinese economic data.
Brent crude futures were up 27 cents at $74.01 per barrel and US West Texas Intermediate crude was at $69.13 per barrel with a loss of 29 cents.