- Petrol sold at Rs 69.13/litre in Delhi, Rs 76.88/litre in Mumbai
- Diesel price at Rs 58.44/litre in Delhi, Rs 61.55/litre in Mumbai
- Oil market companies switched to daily price revisions on June 16
Despite Saturday's increase, petrol rates in Delhi, Kolkata and Chennai are down 11-12 paise per litre so far this month. However, in Mumbai, petrol price has risen by 36 paise per litre since November 30, according to the Indian Oil website - iocl.com. Diesel rates are up 5-50 paise per litre in Delhi, Mumbai, Kolkata and Chennai.
Since the shift to daily revisions, petrol price has risen by Rs 2.22 per litre in Delhi; Rs 2.37
per litre in Kolkata, and Rs 1.71 per litre in Chennai. Diesel price has increased by Rs 2.5 per litre, Rs 2.82 per litre and Rs 2.33 per litre respectively, according to the IOC website. In Mumbai, petrol price has fallen by Rs 1.56 per litre while diesel price has come down 12 paise per litre during this period.
Petrol and diesel don't come under the ambit of GST (Goods and Services Tax). Besides, global prices, excise duty and VAT determine the domestic price of petrol and diesel. India relies on imports to meet 80 per cent of its needs and so domestic fuel rates have been aligned to movement of equivalent product prices in the international market.