Petrol and Diesel prices remain constant for 9th day on Sept 14; See rates

According to a price notification from the oil companies, petrol and diesel prices were steady for the ninth day in a row on Tuesday, September 14. The price of petrol in Delhi was recently reduced to Rs 101.19 per litre and the price of diesel to Rs 88.62 per litre. On Tuesday, prices in the national capital remained unchanged.

Fuel prices in Mumbai followed a similar pattern. The price of petrol remained constant at Rs 107.26 per litre. On May 29, the financial hub became the first city in the country to sell petrol for more than Rs 100 per litre. In Mumbai, the price of diesel remained unchanged at Rs 96.19 a litre.

Petrol prices in India

• Mumbai: Rs 107.26 per litre
• Delhi: Rs 101.19 per litre
• Chennai: Rs 98.96 per litre
• Kolkata: Rs 101.62 per litre
• Bhopal: Rs 109.63 per litre
• Hyderabad: Rs 105.26 per litre
• Bengaluru: Rs 104.70 per litre
• Guwahati: Rs 97.05 per litre
• Lucknow: Rs 98.30 per litre
• Gandhinagar: Rs 98.26 per litre
• Thiruvananthapuram: Rs 103.42 per litre

Diesel prices in India

• Mumbai: Rs 96.19 per litre
• Delhi: Rs 88.62 per litre
• Chennai: Rs 93.38 per litre
• Kolkata: Rs 91.71 per litre
• Bhopal: Rs 97.43 per litre
• Hyderabad: Rs 96.69 per litre
• Bengaluru: Rs 94.04 per litre
• Guwahati: Rs 88.05 per litre
• Lucknow: Rs 89.02 per litre
• Gandhinagar: 95.70 per litre
• Thiruvananthapuram: Rs 95.38 per litre

How are Petrol prices in India and Diesel prices in India decided?

Oil marketing companies (OMCs) such as Bharat Petroleum, Indian Oil, and Hindustan Petroleum modify the Petrol and Diesel prices. Every day at 6 a.m., the new pricing goes into effect. Because of the many value-added taxes, local and freight charges that vary based on the location, fuel prices fluctuate between states and localities.

India imports around 80% of its petrol and diesel needs. Brent crude oil plays a significant impact in this. The price of crude oil per barrel fluctuates daily. Fuel prices in India are adjusted on a daily basis in response to global crude oil price fluctuations. The cost of imports rises in accordance with global crude oil prices. However, this is only one factor contributing to the high retail pricing. The rest is all taxes. 

Oil marketing corporations set the prices for petrol. Because oil corporations are no longer regulated by the government, it is their responsibility to alter prices in accordance with worldwide rates. The governments, on the other hand, collect a sizable tax on the retail price of petrol and diesel, which consumers pay at the pump. State-run oil refineries like Indian Oil, Bharat Petroleum, and Hindustan Petroleum assess fuel prices on a daily basis, taking into consideration crude oil prices in international markets as well as rupee-dollar exchange rates.

Image: PTI