August 16th 2023.
Petrol and diesel prices have been unchanged on August 16 in major cities across India and have been at a steady cost for the past year. This is due to factors such as the Value Added Tax, freight charges, and local taxes varying from state to state. Public sector Oil Marketing Companies such as Bharat Petroleum, Indian Oil, and Hindustan Petroleum adjust their prices daily in line with international benchmark prices and foreign exchange rates.
If you want to know the petrol and diesel prices in your city, you can easily check from the comfort of your home. All you need to do is send a message from your phone to 9224992249 with your city code. The city codes can be found on Indian Oil's website.
Delhi has petrol and diesel priced at Rs 96.72/litre and Rs 89.62/litre, respectively. Mumbai has petrol at Rs 106.31/litre and diesel at Rs 94.27/litre. In Chennai, petrol is priced at Rs 102.63/litre and diesel at Rs 94.24/litre, while in Kolkata petrol is at Rs 106.03/litre and diesel at Rs 92.76/litre.
The last country-wide alteration in fuel rates was on 21 May last year, when Finance Minister Nirmala Sitharaman reduced the excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel.
Oil prices have spiked on Wednesday morning as the US crude supplies are tightening. Brent crude futures for October increased by 3 cents to $84.92 per barrel and US West Texas Intermediate crude rose to $81.04 per barrel, up by 5 cents.
The government has also increased the Special Additional Excise Duty on crude petroleum to Rs 7,100 per tonne on August 15. Additionally, the Special Additional Excise Duty on export of diesel has been raised to Rs 5.50 per litre from Re 1 per litre. Moreover, a duty of Rs 2 per litre on jet fuel or ATF has been imposed from August 15, as there was no SAED previously.
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