Petrol, Diesel Prices Continue To Rise: Check Fuel Rates Here
Oil-marketing companies increased the prices of petrol and diesel across the four metro cities on Sunday. Petrol was priced at Rs. 81.82 per litre in New Delhi, Rs. 83.66 per litre in Kolkata, Rs. 87.29 per litre in Mumbai and Rs. 85.04 per litre in Chennai, according to Indian Oil Corporation (IOC). Diesel was sold at Rs. 73.53 per litre in New Delhi, Rs. 75.38 per litre in Kolkata, Rs 77.06 per litre in Mumbai and Rs. 77.73 per litre in Chennai. Petrol and diesel rates are decided on a daily basis by oil-marketing companies on the basis of the rupee-dollar rate and global crude oil prices.
The fuel rates vary from city to city and from pump to pump depending on local taxes and transportation cost. Delhi has the cheapest fuel rates among all metros and most state capitals because of lower taxes.
The government on Saturday sought to assure investors that it would not go back to regulating fuel prices, a day after oil company shares tumbled on concerns about a return to a regime that has hurt their profits in the past. "Let me categorically assure all that there is no going back on deregulation of oil prices," Finance Minister Arun Jaitley said in a Facebook post on Saturday.
On Thursday, 12 states slashed the prices of petrol and diesel after the central government announced a Rs. 1.5 per litre cut in excise duty and made state-run oil companies absorb a Re 1 per litre cut in fuel prices.