Oil Marketing Companies (OMC) kept the prices of petrol and diesel prices unchanged on August 27. With no change, petrol continues to be sold for Rs 101.49 per litre and diesel for Rs 88.92 a litre in Delhi.
Similarly, the price of petrol remained static at Rs 107.52 a litre in Mumbai. The financial hub, on May 29, became the first metro in the country where petrol was being sold for more than Rs 100 per litre.
Diesel costs Rs 96.48 a litre in Maharashtra’s capital.
The fuel prices remain unchanged in Kolkata too, where petrol and diesel prices were Rs 101.82/litre and 91.98/litre, respectively.
Petrol & Diesel Rates Aug 08, 2022
In Chennai, a litre of petrol costs Rs 99.20. The DMK government in Tamil Nadu had last week announced a tax cut of Rs 3 on petrol per litre. Diesel price also remained unchanged at Rs 93.52 per litre in Tamil Nadu’s capital.
Puducherry government on August 25 announced a tax cut in petrol prices. The territorial administration has cut value-added tax (VAT) on petrol by 3 percent. With the cut, the price of petrol would be reduced by Rs 2.43/litre in Puducherry and Karaikal regions.
India is near 85 percent dependent on imports to meet its oil needs and so benchmarks local fuel rates to international oil prices.
August 18 reduction in diesel rates came after 33 days of status quo in rates as oil companies followed what is known as moderation policy which calls for not passing on extreme volatility in rates to consumers.
Petrol and diesel price was last hiked on July 17. Prior to that, the petrol price was increased by Rs 11.44 a litre between May 4 and July 17. Diesel rates had gone up by Rs 9.14 during this period.The price hike during this period pushed petrol prices above Rs 100-a-litre-mark in more than half of the country while diesel crossed that level in at least three states.