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The country’s major oil marketing companies (OMCs) like Indian Oil (IOCL), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL) have released new prices of petrol and diesel today at exactly 6 am. Fuel prices are released at the national level after a daily review of global crude oil prices in the international market and fluctuations in the exchange rate of the Indian rupee against the US dollar. Even today, the retail prices of petrol and diesel remain stable in most of the major metros of the country, while slight differences are being seen in different cities in the states depending on the local VAT and freight charges. If you are also going to fill the tank of your vehicle in the morning, then before leaving home, definitely know the latest rates of your city.
The retail prices released this morning by state-owned oil companies in major cities of the country are as follows:
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New Delhi: Today in the capital Delhi, the price of petrol is stable in the range of ₹ 94.72 to ₹ 102.12 per liter, while the price of diesel has been recorded at ₹ 87.62 to ₹ 95.20 per liter.
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Mumbai: Due to high local taxes in the country’s financial capital Mumbai, petrol remains at ₹ 104.21 to ₹ 111.21 per liter and diesel at ₹ 92.15 to ₹ 97.83 per liter.
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Kolkata: Today in Kolkata, the capital of West Bengal, petrol is being sold at ₹ 103.94 to ₹ 113.51 per liter and diesel at ₹ 90.76 to ₹ 99.82 per liter.
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Chennai: In Chennai, the capital of Tamil Nadu, the rate of petrol is in the range of ₹ 100.75 to ₹ 107.76 per liter and diesel is in the range of ₹ 92.34 to ₹ 99.55 per liter.
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Lucknow: Today in Lucknow, the capital of Uttar Pradesh, the price of petrol is stable at ₹ 101.86 per liter and diesel at ₹ 95.36 per liter.
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Noida/Greater Noida: In Noida adjacent to Delhi, petrol is available at the rate of ₹ 101.96 per liter and diesel at ₹ 95.44 per liter.
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Bengaluru and Hyderabad: In IT hub Bengaluru, petrol is being sold at ₹111.68 and diesel at ₹99.56 per litre, while in Hyderabad petrol is being sold at ₹116.15 and diesel at ₹104.23 per litre.
This question often arises in the minds of consumers that when crude oil is imported at the same price for the entire country, then why are the prices of petrol and diesel so different in different states and cities. The main reason behind this is the taxation structure:
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Central Government Excise Duty: The central government levies a uniform Central Excise Duty on petrol and diesel across the country.
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State VAT (Value Added Tax): Petrol and diesel are not yet under the purview of Goods and Services Tax (GST) in India. Therefore, each state government imposes different percentages of VAT and cess on fuel as per its revenue requirements. For example, in Maharashtra, Andhra Pradesh and Telangana, VAT rates are high, due to which petrol remains above Rs 110, whereas in Andaman or Daman, prices remain much lower due to low taxes.
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Dealer commission and freight: The freight cost is added according to the distance of fuel delivery from the oil refinery to the petrol pump, and the fixed commission of the petrol pump operator is also included in it.
‘Dynamic Fuel Pricing’ system is in force in India since June 2017. Under this, oil companies revise the base price of petrol and diesel every day at 6:00 am on the basis of the average prices of crude oil and forex exchange rate of the last 15 days in the international market. This maintains transparency in prices and the immediate impact of profits and losses in the global market is reflected in the domestic market.
If you want to know the exact price of petrol and diesel in your city directly from your mobile, you can ask for the latest rate by just sending an SMS without internet:
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Indian Oil (IOCL) Customers: Write RSP in the message box of your mobile and this 9224992249 Send it to.
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Bharat Petroleum (BPCL) Customers: Write RSP in the message and this 9223112222 Send to.
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Customers of Hindustan Petroleum (HPCL): Type HPPRICE in the message box and 9222201122 send over.
(The dealer code of each petrol pump is written on the dispensing unit board there, or it can also be seen from the official website of the concerned oil company.)