(FE)
The prices of petrol and diesel were kept unchanged by the OMCs for the Ninth day running on Tuesday. Finance Minister Nirmala Sitharaman had announced a cut in excise duty on petrol by 8 per litre, and 6 rupees per litre on diesel earlier this month. Petrol price in Delhi today stands at Rs 96.72 a litre as against Rs 105.41 a litre last week, while diesel will cost Rs 89.62 a litre as opposed to Rs 96.67. In Mumbai, one litre of petrol costs Rs 111.35 while diesel is retailing at Rs 97.28 per litre.
Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international prices and foreign exchange rates. Any changes in petrol and diesel prices are implemented with effect from 6 am every day. Retail petrol and diesel prices differ from state to state on account of local taxes like VAT or freight charges. After the Central government’s decision to cut excise duty, several state governments slashed VAT on petrol and diesel.
