Petrol, diesel prices remain largely unchanged, check prices in your city

With no significant changes in their prices, petrol and diesel prices continued to remain stable in key cities of the country, according to information available on Goodreturns.

Delhi, Mumbai, Kolkata, and Chennai registered the same price for petrol and diesel on May 22 as yesterday. It is important to note that Oil Marketing Companies review and decide the fuel prices every day at 6 am in the morning. They do so according to the price of crude oil throughout the world.

CITY      PETROL (Rs/LITRE)      DIESEL (Rs/LITRE)
 

DELHI                96.72                         89.62

 

KOLKATA           106.03                       92.76

MUMBAI            106.31                        94.27

CHENNAI          102.63                        94.24

BENGALURU    101.94                        87.89

NOIDA                96.59                         89.76

JAIPUR              108.78                       93.99

Earlier, fuel prices were revised every fifteen days. In 2014, the government decided to deregulate fuel prices and left it to the international market and since 2017, fuel prices are revised every day in accordance with the international prices.

Fuel is covered under the ambit of Goods and Services Tax (GST). While the central government collects excise duty on fuel, the state government imposes a value-added tax (VAT) on fuel.

India imports more than 80 per cent of its fuel. To save foreign exchange and reduce dependence on fuel imports, the government intends to bring the imports down by way of blending ethanol and a push to encourage the use of renewable energy sources.