Continuing their steady streak of over two months, retail fuel prices in India remain unchanged on Tuesday, July 27. Union Finance Minister Nirmala Sithraman on May 21 slashed the excised duty levied on fuel prices to give common consumers a respite from the continuous spike in fuel prices. The deduction resulted in an Rs 8 drop in the price of petrol whereas diesel prices were reduced by Rs 6. The fuel prices have remained constant since then.
In the national capital, Delhi, petrol continued to retail at Rs 96.72 per litre whereas diesel prices remained at Rs 89.62 for one litre. In Chennai, a litre of petrol and diesel will cost Rs 102.63 and Rs 94.24 respectively. For a litre of petrol in Kolkata, consumers will have to shed Rs 106.03 whereas diesel costs Rs 92.76 per litre.
In addition to the cut in excise duty announced by the central government, several states have also announced tax cuts to extend more benefits to the common consumer. The Maharashtra Government on July 15 announced a cut in the value-added tax (VAT) levied on automotive fuels. The VAT cut resulted in a Rs 5 drop in the prices for a litre of petrol whereas diesel price fell by Rs 3. Following the VAT relaxation, a litre of petrol in Mumbai now retails at Rs 106.31 whereas the price of diesel in the financial capital stands at Rs 94.27 per litre.
Petrol, Diesel Prices on July 26, in Delhi, Chennai and Other Major Cities in India:
Delhi
Petrol: Rs 96.72 per litre
Diesel: Rs 89.62 per litre
Mumbai
Petrol: Rs 106.31 per litre
Diesel: Rs 94.27 per litre
Kolkata
Petrol: Rs 106.03 per litre
Diesel: Rs 92.76 per litre
Chennai
Petrol: Rs 102.63 per litre
Diesel: Rs 94.24 per litre
Bhopal
Petrol: Rs 108.65 per litre
Diesel: Rs 93.90 per litre
Hyderabad
Petrol: Rs 109.66 per litre
Diesel: Rs 97.82 per litre
Bengaluru
Petrol: Rs 101.94 per litre
Diesel: Rs 87.89 per litre
Guwahati
Petrol: Rs 96.01 per litre
Diesel: Rs 83.94 per litre
Lucknow
Petrol: Rs 96.44 per litre
Diesel: Rs 89.76 per litre
Gandhinagar
Petrol: Rs 96.63 per litre
Diesel: Rs 92.38 per litre
Thiruvananthapuram
Petrol: Rs 107.71 per litre
Diesel: Rs 96.52 per litre.
Fuel prices in India are revised daily by Oil Marketing Companies (OMCs) like Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL). The revised prices are effective from 6 AM daily. The prices of petrol and diesel depend on multiple factors including international crude oil prices, foreign exchange rate, refining costs and various taxes levied by the government.
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