Check Live New Petrol & Diesel Rates in Your City: Petrol prices were slashed for the fifth straight day on Tuesday. Petrol price in Delhi fell below the Rs 70 per litre mark to Rs 69.79 after today’s price revision. Meanwhile, diesel rates in Delhi remained unchanged at 63.83. In Mumbai, petrol is being sold at Rs 75.41, 7 paise cheaper than Monday. Diesel price in the country’s financial capital remained unchanged at Rs 66.79. Petrol now costs Rs 72.41 in Chennai, Rs 71.89 in Kolkata and Rs 70.35 in Bengaluru. A litre of diesel, on the other hand, costs Rs 67.38 in Chennai, Rs 65.95 in Kolkata and 64.18 in Bengaluru.
On Monday, petrol was sold at Rs 70.27 a litre in Delhi, Rs 75.89 in Mumbai, Rs 73.11 in Chennai and Rs 72.36 in Kolkata. In Delhi, Mumbai, Chennai and Kolkata, diesel was priced at Rs 64.19, Rs 67.17, Rs 68.10 and Rs 65.95.
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(Dec 26, 2018)
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Also, the prices were marginally lowered on Tuesday due to the downward movement in fuel rates so far this month. Reports are coming that the reduction in petrol prices was in the range of 8-12 paise per liter and came after three consecutive days of no change in prices. People are expecting much change in the price as they were waiting for it for a long time. You all should know that diesel price is steady since consecutive two days.
State-run oil marketing companies Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation is currently reviewing the domestic petrol and diesel rates on a daily basis, and announce any changes in rates every morning at 6 am. Some reports are suggesting that the effect will go on from 6 am on Tuesday, June 19, petrol prices were at Rs. 76.27 per liter in Delhi, Rs. 78.94 per liter in Kolkata, Rs. 84.06 per liter in Mumbai and Rs. 79.16 per liter in Chennai, according to Indian Oil Corporation.
The central government had raised excise duty on petrol by Rs 11.77 a litre and that on diesel by 13.47 a litre in nine installments between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre.
This led to its excise collections from petro goods more than doubling in last four years – from Rs 99,184 crore in 2014-15 to Rs 2,29,019 crore in 2017-18. States saw their VAT revenue from petro goods rise from Rs 1,37,157 crore in 2014-15 to Rs 1,84,091 crore in 2017-18.
Well, you all should know that State-run oil companies Indian Oil, Bharat Petroleum and Hindustan Petroleum completed a year of daily review of petrol and diesel prices across the country. Also, the Prior to June 16, 2017, petrol and diesel prices were revised on the twice-a-month basis.