Economy

Check your city’s Fuel Prices after excise duty cuts

On Thursday, June 23, the price of gasoline stays the same for more than a month. Since May 21, Oil Marketing Companies have maintained a constant retail pricing for gasoline and diesel.

The excise duty on gasoline and diesel will both be reduced by Rs 8 per litre, as announced by Union Finance Minister Nirmala Sitharaman last month.

On Thursday, the cost of gasoline in Delhi is Rs 96.72 per litre, down from Rs 105.41 per litre the day before. The cost of diesel in the national capital is Rs 89.62 per litre, down from Rs 96.67 per litre the day before.

Mumbai drivers will pay Rs 111.35 for a litre of gasoline, while drivers of diesel vehicles would pay Rs 97.28 in the city’s financial centre. In Kolkata, the cost of gasoline is Rs. 106.03 per litre, while the cost of diesel in the capital of West Bengal is Rs. 92.7 per litre.

The retail price of gasoline is Rs 102.63 per litre in Chennai on Thursday, while the retail price of diesel is Rs 94.24 per litre.

Public sector OMCs like Hindustan Petroleum Corporation Ltd (HPCL), Indian Oil Corporation Ltd (IOCL), and Bharat Petroleum Corporation Ltd. revise the price of gasoline and diesel in the nation (BPCL).

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Petrol and fuel price adjustments go into effect every day at 6 AM. International crude oil prices and foreign exchange rates are just two of the variables that affect how much fuel will change in price.

Due to regional elements like state taxes, VAT (Value Added Tax), and freight costs, among others, the price of gasoline and diesel varies among the states as well.

Following the national government’s decision to make large reductions in excise duty in order to lower fuel prices, some state governments also lowered the VAT on gasoline and diesel.1

The local VAT on gasoline and diesel in Maharashtra was reduced by Rs 2.08 and Rs 1.44 per litre, respectively. The local taxes on gasoline and diesel in Odisha have been lowered by Rs 2.23 and Rs 1.36 per litre, respectively.

The state government of Rajasthan decreased the VAT on gasoline and diesel by 2.48 and 1.16 respectively. The local tax on gasoline and diesel would be reduced by Rs 2.41 and Rs 1.36 per litre, respectively, according to an announcement made by the Kerala state government.

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Prices for gasoline and diesel on June 23 in Delhi, Chennai, and other significant Indian cities:

Delhi

Rs 96.72 for a litre of gasoline

Diesel: 89.62 rupees per litre

Mumbai

Rs 111.35 for a litre of gasoline

Diesel: 97.28 rupees per litre

Kolkata

Rs 106.03 per litre for gasoline

Diesel: 92.76 rupees per litre

Chennai

Rs 102.63 per litre for gasoline

Diesel: 94.24 rupees per litre

Bhopal

Rs 108.65 per litre for gasoline

Diesel: 93.90 rupees per litre

Hyderabad

Rs 109.66 per litre for gasoline

Diesel: 97.82 rupees per litre

Bengaluru

Rs 101.94 per litre for gasoline

Diesel: 87.89 rupees per litre

Guwahati

Rs 96.01 per litre for gasoline

Diesel: 83.94 rupees per litre

Lucknow

Rs 96.57 per litre for gasoline

Diesel: 89.76 rupees per litre

Gandhinagar

Rs 96.63 per litre for gasoline

Diesel: 92.38 rupees per litre

Thiruvananthapuram

Rs 107.71 per litre for gasoline

Per litre, diesel costs Rs 96.52.

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