Petrol, Diesel Prices Reduced Again Across India

The state-run oil marketing companies on Tuesday have revised the fuel prices across the country. Domestic petrol rates have been cut by up to 15 paise whereas diesel prices were reduced by up to 16 paise, as per the notification by the Indian Oil Corporation. Last week, fuel prices were lowered on four occasions bringing down rates by up to 80 paise a litre. In the national capital Delhi, petrol now stands at Rs. 101.49 per litre, while diesel is priced at Rs. 88.92 per litre, after a drop of 15 paise a litre.

Also Read: Petrol, Diesel Prices Reduced By Up To 20 Paise​

In Chennai, petrol retails below Rs. 100-mark, currently priced at Rs. 99.20 a litre

Here are the petrol and diesel prices across six major metros on August 24, 2021:

In Mumbai, petrol prices stood at Rs. 107.52 per litre after seeing a drop of 14 paise, while diesel rates fell 16 paise to Rs. 96.48 per litre. Chennai saw a drop of 12 paise in petrol prices, coming down to Rs. 99.20 per litre, while diesel prices fell 14 paise to Rs. 93.52 a litre. The two auto fuels in Kolkata now cost Rs. 101.82 per litre and Rs. 91.98 per litre for petrol and diesel respectively. Buyers in Bengaluru will now have to pay Rs. 104.98 a litre for petrol and R.s 94.34 a litre for diesel. In Hyderabad, petrol and diesel rates were cut by 15 paise and 16 paise, bringing down prices to Rs. 105.54 a litre and Rs. 96.99 a litre, respectively.

Also Read: Diesel Rates Unchanged On Saturday After Three Consecutive Price Cuts​

The fuel rates vary from state to state in the country due to the value-added tax or VAT.

Fuel rates are the most expensive in Rajasthan's Sri Ganganagar district where petrol is priced at Rs. 113.36 per litre, while diesel stands at Rs. 102.60 per litre. In the Rewa and Anuppur districts of Madhya Pradesh, petrol prices have been reduced to Rs. 112.33 a litre and Rs. 112.73 a litre, respectively. Diesel, on the other hand, in these districts stood at Rs. 99.96 a litre and Rs. 100.33 a litre, respectively. Customers in the Parbhani district of Maharashtra will now have to pay Rs. 110.09 a litre and Rs. 97.49 a litre for petrol and diesel, respectively.

Also Read: Explained: How Fuel Prices Are Calculated In India​

The fuel rates vary from state to state in the country due to the value-added tax or VAT. Rajasthan levies the highest VAT on fuel, followed by Madhya Pradesh, Maharashtra, Andhra Pradesh and Telangana. Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum are the three leading oil marketing companies. They revise domestic fuel prices with global benchmarks by taking into account alterations in the foreign exchange rates accordingly.