Continuing their steady graffiti for more than two months, the price of retail fuel in India remained unchanged on Tuesday, July 27. Union Minister of Finance Nirmala Sithraman on May 21 cuts the price of price. The reduction results in a decrease in the price of RS 8 gasoline while the diesel price is reduced by RS 6. The price of fuel has remained constant since then.
In the National Capital, Delhi, gasoline continues to retail with the price of RS 96.72 per liter while the diesel price remains in RS 89.62 for one liter. In Chennai, one liter of gasoline and diesel each will cost RS 102.63 and RS 94.24. For one liter of gasoline in Kolkata, consumers must reduce RS 106.03 while the diesel cost of RS 92.76 per liter.
In addition to the excise cuts announced by the central government, several countries have also announced tax cuts to provide more benefits to general consumers. The Maharashtra government on July 15 announced the added tax deduction (VAT) imposed on automotive fuels. Cutting VAT produces a decline in RS 5 in the price for one liter of gasoline while the diesel price drops in RS 3. After the relaxation of VAT, one liter of gasoline in Mumbai is now sold at a price of RS 106.31 while the price of diesel in the financial capital stands in RS 94.27 per liter.
Gasoline prices, diesel on July 26 in Delhi, Chennai and other big cities in India:
Delhi
Gasoline: RS 96.72 per liter
Diesel: RS 89.62 per liter
Mumbai
Gasoline: RS 106.31 per liter
Diesel: RS 94.27 per liter
Kolkata
Gasoline: RS 106.03 per liter
Diesel: RS 92.76 per liter
Chennai
Gasoline: RS 102.63 per liter
Diesel: RS 94.24 per liter
Bhopal
Gasoline: RS 108.65 per liter
Diesel: RS 93.90 per liter
Hyderabad
Gasoline: RS 109.66 per liter
Diesel: RS 97.82 per liter
Bengaluru
Gasoline: RS 101.94 per liter
Diesel: RS 87.89 per liter
Guwahati
Gasoline: RS 96.01 per liter
Diesel: Rs 83.94 per liter
Lucknow
Gasoline: RS 96.44 per liter
Diesel: Rs 89.76 per liter
Gandhinagar
Gasoline: RS 96.63 per liter
Diesel: RS 92.38 per liter
Thiruvananthapuram
Gasoline: RS 107.71 per liter
Diesel: RS 96.52 per liter.
Fuel prices in India are revised every day by oil marketing companies (OMC) such as Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL). Effective revised prices start at 6 am every day. Gasoline and diesel prices depend on many factors including international crude oil prices, foreign exchange rates, refining costs and various taxes collected by the government.