No significant change was observed in the prices of petrol and diesel on 17 February.
Since May 21 last year, when the central government last reduced excise duty on petrol and diesel by Rs 10 each. 8 and Rs. 6, respectively, a large fluctuation in prices is not observed.
It is anticipated that the countrywide implementation of the change will take some time considering the stability of fuel prices over the past several months by the country’s oil marketing companies (OMCs).
At present, petrol prices have crossed the Rs 100 mark in metro cities including Mumbai, Hyderabad, Chennai and Kolkata.
As per the most recent update for the two major fuels, petrol price in Delhi was fixed at Rs 96.72 per liter and diesel at Rs 89.62 per liter on February 17.
A liter of petrol costs Rs 106.31 and a liter of diesel costs Rs 94.27 in Mumbai, the financial hub of the country. In Chennai, one liter of petrol will cost consumers Rs 102.73 and one liter of diesel will cost Rs 94.33. The cost of diesel in Kolkata is Rs 92.76, while that of petrol is Rs 106.03.
Check petrol rates in different cities of the country on Friday, February 17:
Delhi
Petrol: Rs 96.72 per liter
Diesel: Rs 89.62 per liter
Chennai
Petrol: Rs 102.73 per liter
Diesel: Rs 94.33 per liter
Kolkata
Petrol: Rs 106.03 per liter
Diesel: Rs 92.76 per liter
Mumbai
Petrol: Rs 106.31 per liter
Diesel: Rs 94.27 per liter
Bangalore
Petrol: Rs 101.94 per liter
Diesel: Rs 87.89 per liter
Lucknow
Petrol: Rs 96.62 per liter
Diesel: Rs 89.76 per liter
Hyderabad
Petrol: Rs 109.66 per liter
Diesel: Rs 97.82 per liter
Bhopal
Petrol: Rs 108.65 per liter
Diesel: Rs 93.90 per liter
Gandhi Nagar
Petrol: Rs 96.63 per liter
Diesel: Rs 92.38 per liter
Guwahati
Petrol: Rs 96.01 per liter
Diesel: Rs 83.94 per liter
Thiruvananthapuram
Petrol: Rs 107.71 per liter
Diesel: Rs 96.52 per litre.
Many variables affect the cost of fuel in India. Increase in global crude oil prices, decrease in valuation of the Indian rupee relative to the US dollar, and taxes imposed by the central and state governments are some of the major factors affecting the price of petrol and diesel.
The change in the price of diesel and petrol is announced every day at 6 am.
Value-added tax (VAT), freight costs, municipal taxes, and other variables, among others, all have an impact on state-to-state variations in fuel pricing.
Public sector oil marketing companies such as Bharat Petroleum Corporation Limited, Indian Oil Corporation Limited and Hindustan Petroleum Corporation Limited are in charge of determining the daily price revisions.
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