Excise Duty Cut On Petrol, Diesel: Check Latest Fuel Prices In Your City

Petrol and diesel prices across the country largely remained the same even after the Centre announced a sharp cut in excise duties. Some cities, though, have reported a marginal hike in fuel prices.

On Friday, the government reduced excise duty by Rs 10 per litre on both petrol and diesel. Following the revision, central taxes on petrol have come down to Rs 3 per litre, while diesel now attracts zero excise duty.

India's three major state-run oil marketing companies, Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL), continue to revise petrol and diesel prices on a daily basis in line with international crude oil trends and fluctuations in the rupee-dollar exchange rate.

Despite volatility in international oil markets, retail fuel prices have remained steady in most cities.

In Chennai, diesel prices rose by 20 paise, while petrol rates increased by 17 paise since the previous day. Similarly, Bengaluru has also recorded a marginal uptick in petrol prices, according to Good Returns.

Latest petrol, diesel prices in key cities:

Delhi

Petrol: Rs 94.77 per litre
Diesel: Rs 87.67 per litre

Bengaluru

Petrol: Rs 102.96 per litre
Diesel: Rs 90.99 per litre

Chennai

Petrol: Rs 101.23 per litre
Diesel: Rs 92.81 per litre

Kolkata

Petrol: Rs 105.41 per litre
Diesel: Rs 92.02 per litre

Hyderabad

Petrol: Rs 107.50 per litre
Diesel: Rs 95.70 per litre

Mumbai

Petrol: Rs 103.54 per litre
Diesel: Rs 90.03 per litre

Chandigarh

Petrol: Rs 94.30 per litre
Diesel: Rs 82.45 per litre

India's state-run oil marketing companies are suffering major losses on fuel sales as global crude oil prices rise in the wake of the US-Israeli war on Iran. Disruptions in supply lines, especially the Strait of Hormuz, have contributed to the increase in oil prices.

Estimates show that OMCs are losing about Rs 48.8 for each litre of petrol and diesel sold. This is due to a dramatic increase in the price of Brent crude, the worldwide benchmark, which has surpassed $100 per barrel.