Prices of petrol and diesel remained unchanged across the country for a third consecutive day on September 8. With no change, the price of petrol stands at Rs 101.19 per litre in Delhi, while diesel costs Rs 88.62/litre in the national capital.
In Mumbai, petrol continues to retail at Rs 107.26/litre, while diesel costs Rs 96.19/litre, as per Indian Oil Corporation (IOC), the country's largest fuel retailer. The financial hub, on May 29, became the first metro in the country where petrol was being sold for more than Rs 100/litre.
In Kolkata, people have to shell out Rs 101.62/litre and Rs 91.71/litre of petrol and diesel, respectively.
In Chennai, petrol retails at Rs 98.96/litre, while diesel costs Rs 93.26/litre in Tamil Nadu’s capital.
Under the pricing formula adopted by oil companies, rates of petrol and diesel are to be reviewed and revised on a daily basis. The new prices become effective from morning at 6 am.
The daily review and revision of prices is based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.
Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Rajasthan levies the highest VAT on petrol and diesel in the country, followed by Madhya Pradesh, Maharashtra, Andhra Pradesh and Telangana.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
