According to the most recent price notification by fuel retailers, petrol and diesel prices have been unchanged on September 19 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 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.
Government hikes windfall gains tax
In a bid to maintain equilibrium in the domestic and international fuel markets, the Central Government announced a hike in windfall gains tax on domestically-produced crude oil to Rs 10,000, effective from Saturday. The government also cut diesel exports to Rs 5.50 per liter.
Oil prices saw a slight increase on Monday. Brent crude futures gained an uptick of 5 cents, equivalent to a 0.1 percent increase, reaching a price of $93.98 per barrel. Simultaneously, U.S. West Texas Intermediate crude oil stood at $90.92 per barrel, marking a 15 cent or 0.2 percent rise.