Petrol And Diesel Price Update: Fuel prices remain steady on Saturday

Petrol And Diesel Price Update: On Saturday, 12 August the price of petrol and diesel remained New Delhi, Kolkata, Mumbai, and Chennai. Over the past months, prices for petrol and diesel have been stable. Individual cities, however, experience daily pricing changes. State-by-state variations in the cost of fuel and diesel can be due to factors like Value Added Tax (VAT), freight costs, local levies, etc.

On May 21 of last year, Finance Minister Nirmala Sitharaman cut the excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per litre, resulting in the latest nationwide modification of fuel prices.

Since the national government cut excise duty in May 2022, some states have also lowered the VAT on fuels, while others have imposed cess on petrol and diesel.

Price of petrol and diesel in the four metro cities:

New Delhi - Petrol Rs 96.72 a litre, Diesel Rs 89.62 a liter

Mumbai- Petrol Rs 106.31, diesel Rs 94.27 a liter

Chennai- Petrol Rs 102.73, diesel Rs 94.33 a liter

Kolkata- Petrol Rs 106.03, diesel Rs 92.76 per liter

Oil Marketing Companies (OMCs) in the public sector, such as Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL), and Hindustan Petroleum Corporation Ltd (HPCL), regularly adjust their petrol and diesel prices according with foreign exchange rates and benchmark pricing. Every day at six in the morning, any changes to the price of fuel and diesel go into effect.

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