Domestic petrol and diesel prices vary from state to state due to value added tax (VAT).
Petrol and diesel prices remained unchanged for eighth straight day on Wednesday (December 1). In the national capital, the price of petrol remained constant at Rs 83.71 per litre with effect from 6 am on Wednesday, and that of diesel was unchanged at Rs 73.87 per litre, according to Indian Oil Corporation, the country’s largest fuel retailer. In Mumbai, petrol and diesel rates were at Rs 90.34 per litre and Rs 80.51 per litre respectively. In Delhi, petrol prices have been hiked by Rs 2.65 per litre and diesel prices, by Rs 3.40 per litre in the last 24 days. The fuel prices in Mumbai are the highest among metros. (Also Read: How To Check Latest Petrol And Diesel Rates In Your City)
Here are the current prices of petrol and diesel in the four metros (in rupees per litre):
| City | Petrol | Diesel |
|---|---|---|
| Delhi | 83.71 | 73.87 |
| Mumbai | 90.34 | 80.51 |
| Chennai | 86.51 | 79.21 |
| Kolkata | 85.19 | 77.44 |
| Source: Indian Oil | ||
Oil companies align the domestic fuel prices with global benchmarks by considering the changes in the foreign exchange levels. Domestic petrol and diesel prices vary across states due to value-added tax (VAT).
The state-owned oil marketing firms Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum Corporation, which currently own the majority of fuel stations across the country, review the fuel prices on a daily basis, and implement any changes with effect from 6 am.
Meanwhile, oil prices rose on Tuesday as investors focused on the rollout of COVID-19 vaccines, looking past tightening lockdowns in Europe and forecasts for a slower-than-expected recovery in fuel demand.