Petrol Prices On July 29 2023: Petrol cost 96.72 per litre in Delhi, while diesel cost 89.62 per litre, as of 6 a.m., when fuel prices were revised by oil marketing companies. In Mumbai, the prices of petrol and diesel were 106.31 and 94.40, respectively.
Here are the prices for petrol and diesel in other main cities on July 29, 2023.
| CITY | PETROL PRICE (Rs/LITRE) | DIESEL PRICE (Rs/LITRE) |
|---|---|---|
| CHENNAI | 102.63 | 94.33 |
| BENGALURU | 101.94 | 87.89 |
| AHMEDABAD | 96.63 | 92.17 |
| LUCKNOW | 96.57 | 89.76 |
| BHOPAL | 108.65 | 93.90 |
In India, the prices of petrol and diesel are determined by oil marketing corporations. At 6 a.m. each day, oil companies such as IOCL, BPCL, and HPCL adjust petroleum prices. The petroleum planning and analysis division of the petroleum and natural gas ministry monitors these prices.
The Centre does not determine the price of petroleum. Fuel prices are determined by hydrocarbon marketing companies. Historically, petroleum prices were adjusted every 15 days. In 2014, the government deregulated petrol prices. Since 2017, the price of fuels and diesel is adjusted daily.
The federal government regulates petroleum prices through excise taxes. It also regulates the minimum and maximum prices at which dealers and energy companies conduct business.
The Centre reduced the excise duty on petrol and diesel by 8 per litre and 6 per litre, respectively, in the previous year. This resulted in reductions of 9.5 per litre and 7 per litre, respectively.
Fuel Price today, July 28: Check Petrol and Diesel rates in Delhi, Mumbai, other cities
The state government imposes a value-added tax (VAT) on petrol prices. Since each state has a distinct VAT, prices vary accordingly. The federal and state governments impose substantial taxes on petrol and diesel, which are paid at the petrol outlet. The federal government imposes excise taxes, while state governments impose value-added taxes.
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