Petrol, diesel price today, December 3: Fuel costs remain constant in India; check latest rates
Petrol and diesel prices remained untouched on Friday by oil marketing companies across India.
Fuel rates continued to remain constant as petrol and diesel prices remained static on Friday across various cities in the country including the national capital Delhi, metro cities Mumbai, Kolkata and Chennai. The government cut excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre on November 3 to give relief to consumers battered by record-high retail fuel prices.
The state-run oil marketing companies (OMCs) have not increased the prices of petrol and diesel on Monday, amid a sharp decline in crude oil prices in the international market.
On Wednesday, the Delhi government had reduced value-added tax (VAT) on petrol from 30 per cent to 19.40 per cent. The decision marked Rs 8.56 per litre reduction in petrol prices from Thursday in the national capital. A litre of petrol now costs Rs 95.41 from Rs 103.97 earlier. However, diesel prices were kept unchanged at Rs 86.67 in Delhi.
As for Mumbai, India's financial capital, petrol and diesel prices have cost Rs 109.98 per litre and Rs 94.14 per litre respectively. In the other two metros, Kolkata and Chennai, the price of petrol remains above Rs 100. While petrol and diesel in Kolkata cost Rs 104.67 and Rs 89.79 per litre, the same costs Rs 101.40 and Rs 91.43 a litre in Chennai.
In India’s IT capital Bengaluru, a litre of petrol is priced at Rs 100.58 and diesel costs Rs 85.01 per litre. Meanwhile, in Hyderabad, petrol costs Rs 108.20 per litre and diesel costs Rs 94.62 per litre. In Chandigarh, people have to pay Rs 100.12 per litre for petrol and Rs 86.46 per litre for diesel.
Despite the reduction in prices, petrol rates are still above the Rs 100 per litre mark across the four metros and several cities in the country. Among the metro cities, fuel rates are the highest in Mumbai.
The divergence in prices between cities is due to various local VAT charges in different cities. Petrol and Diesel prices are fixed on the basis of freight charges, local taxes, and VAT. Petrol price still sits above the Rs 100-a-litre mark in Delhi, Rajasthan, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu and Kashmir, Odisha, Tamil Nadu, and some cities of Bihar and Punjab.