May 26, 2023 10:06 AM IST
Across major cities, fuel prices have been largely steady since May 21 last year, when the previous pan-India revision was done.
Petrol and diesel prices in the country remained the same on Friday as compared to the previous day with few marginal changes in cities like Lucknow, Patna, Jaipur and Gurgaon. Fuel rates in major cities have remained same since May 21 last year, when the prices were revised
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 global crude oil.
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 due to Value Added Tax (VAT), freight charges, local taxes etc.
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