Fuel Prices on July 6: Check petrol, diesel rates in Delhi, Mumbai and other cities

Representative Image

Petrol and diesel prices will remain steady on July 6, the latest price notification issued by fuel retailers shows, with prices staying unchanged for more than a month after the government on May 21 cut the excise duty on petrol by Rs 8 a litre and on diesel Rs 6 a litre.

The duty cut brought down the petrol price in Delhi by Rs 9.5 and Rs 7 for diesel. Petrol in Delhi costs Rs 96.72 and diesel Rs 89.62 a litre.

In Mumbai, petrol is selling at Rs 111.35 and diesel at Rs 97.28. Petrol and diesel are priced at Rs 102.63 and Rs 94.24 in Chennai, while in Kolkata, petrol is at Rs 106.03 and diesel at Rs 92.76.

Oil marketing companies are incurring a loss of Rs 13.08 a litre on petrol and Rs 24.09 on diesel even as they pass on the excise duty cut to consumers in the country. India meets 80 percent of its fuel needs through imports.

Also Read | PACS may be allowed to sell petroleum products, run PDS shops

The Centre has proposed to allow primary agriculture credit societies (PACS) to undertake activities like dealership of petroleum products, running PDS shops, and developing hospital and educational institutions, in addition to their regular functions. In this regard, the Ministry of Cooperation has floated a draft 'Model By-laws of PACS' on which it has invited suggestions from the state governments and other stakeholders by July 19.

The existing framework does not allow PACS to diversify in other areas apart from their core business. The draft model by-laws propose that PACS should be allowed to work as Bank Mitras and common service centres (CSCs), provide cold storage and godown facilities, set up PDS shops besides enabling them to work in dairy, fishery, irrigation and green energy sectors.