Petrol, diesel price today, November 27: Fuel rates remain unchanged, check latest rates
Across the country as well, the prices largely remained unchanged on Saturday, but the retail rates varied depending on the level of local taxes.
For more than three weeks now, fuel prices in India have remained constant as the state-run oil marketing companies (OMCs) have kept the prices of petrol and diesel unchanged. The Centre had on the eve of Diwali, announced excise duty cut on fuels resulting in a sharp decrease in petrol and diesel prices across the country. The government had cut the price of petrol by Rs 5 and that of diesel by Rs 10.
The November 4 decline took the price of petrol in Delhi to Rs 103.97 a litre. The price remained the same on November 27. Diesel price stayed unchanged at Rs 86.67 per litre on the day. 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.
The oil marketing companies revise rates of fuels on a daily basis. The revision in prices depends on the fuel prices in the international market and foreign exchange rates.
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.
So far, about 24 states and Union Territories have cut down the Value Added Tax on petrol and diesel. Most of the states that have slashed the prices from their side are either BJP or NDA-ruled ones. Punjab and Rajasthan are the only two Congress-ruled states to have reduced the taxes from their side. Some Congress-ruled states, however, had not cut VAT and had demanded further reduction in central excise duty.