Petrol and diesel prices in India remained unchanged on Tuesday, March 1, despite a sharp jump in crude oil prices due to rising tensions over Russia’s attack on Ukraine. Fuel prices did not rise for the 115th day in a row. This has been the longest stagnation in fuel prices since the introduction of the daily price revision policy in 2017.
According to an update by state-run Indian Oil Corporation Limited (IOCL) at 6 am on Monday, 1 liter of petrol in the national capital was priced at Rs 96.41 while diesel was retailing at Rs 86.67 per litre.
Retail prices of the fuel have remained unchanged since the last update in November 2021, when the central government announced a cut in excise duty to give relief to customers from rising prices. Reforms in excise duty resulted in a fall in the retail market by Rs 5 per liter for petrol and Rs 10 per liter for diesel.
After the decision of the central government, many states announced additional reduction in Value Added Tax (VAT) to pass on more benefits to the customers. Fuel prices have remained stable since then.
Here is the complete list of petrol and diesel prices as on March 1
Delhi
Petrol price – Rs 95.41 per liter
Diesel price – Rs 86.67 per liter
Mumbai
Petrol price – Rs 109.98 per liter
Diesel price- Rs 94.14 per liter
Chennai
Petrol price – Rs 101.40 per liter
Diesel price – Rs 91.43 per liter
Bangalore
Petrol price – Rs 100.58 per liter
Diesel price – Rs 85.01 per liter
Kolkata
Petrol price – Rs 104.67 per liter
Diesel price – Rs 89.79 per liter
Hyderabad
Petrol price – Rs 108.20 per liter
Diesel price – Rs 94.62 per liter
Thiruvananthapuram
Petrol price – Rs 106.04 per liter
Diesel price – Rs 93.17 per liter
Lucknow
Petrol price – Rs 95.28 per liter
Diesel price – Rs 86.80 per liter
Jaipur
Petrol price – Rs 106.64 per liter
Diesel price – Rs 90.32 per liter
Bhubaneswar
Petrol price – Rs 101.81 per liter
Diesel price – Rs 91.62 per liter
As India is dependent on oil imports to meet 85 per cent of its domestic needs, retail fuel prices are linked to international crude oil rates and rupee-to-dollar conversion scenario. Final prices also depend on factors such as taxes, refining and other costs involved in transporting crude oil to customers in the form of petrol and diesel.
read all breaking news, today’s fresh news And Assembly Election Live Updates Here.