May 24, 2023 12:52 PM IST
Fuel cost remains largely steady in major cities of India.
Petrol and diesel prices in the national capital region and Uttar Pradesh continues to fluctuate on the third day of this week. However, the costs of one litre of both fuels have largely remained steady since May 21 last year, when the previous pan-India revision of fuel prices was done.
Cost of one litre of petrol in Gurugram is ₹96.77 as opposed to ₹97.18 yesterday and one litre of diesel cost went down to ₹89.65. Similarly, one litre petrol price has been cut to ₹96.65, and diesel cost to ₹89.82 today in Noida.
|Cites||Petrol (per litre)||Diesel (per litre)|
How do OMCs determine fuel prices?
OMCs such as Indian Oil, Bharat Petroleum and Hindustan Petroleum review and determine petrol and diesel prices on a daily basis. These are determined in accordance with the price of crude oil throughout the world.
Why fuel prices vary across states?
The rates for each day, whether new or unchanged, are announced at 6 am on the day . These, however, vary from state-to-state; this is due to criteria such as Value Added Tax (VAT), freight charges, local taxes etc.
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