Petrol and diesel prices in India have remained constant over the past several months. The trend continued on December 5 as well. At 6 AM today morning, Indian oil marketing companies (OMCs) such as Indian Oil Corporation Ltd. (IOCL), Bharat Petroleum Corporation Ltd. (BPCL), and Hindustan Petroleum Corporation Ltd. (HPCL) notified no change in prices for yet another day. The OMCs are responsible for setting the fuel prices for the country every day. The last time there was a change in fuel prices in India was on May 22, when the central government reduced excise duty on diesel by Rs 6 per litre and petrol by Rs 8 per litre.
Presently, the cost of petrol in Delhi remains stagnant at Rs 96.72 per litre; diesel here is priced at Rs 89.62. In the country’s financial capital, Mumbai, the price of petrol was Rs 106.31, while diesel cost Rs 94.27 per litre. In the automobile hub of Chennai, petrol retailed at Rs 102.63 per litre, while diesel was sold at Rs 94.24 per litre. In the east, Kolkata saw petrol prices remaining stationary at Rs 106.03 per litre and diesel at Rs 92.76 per litre.
Before the centre levied the price freeze, petrol and diesel prices would fluctuate each day based on the demand and supply of fuels and the exchange rate between the Indian Rupee (INR) and the US Dollar (USD).
Check fuel rates in different cities on December 5:
Delhi
Petrol: Rs 96.72 per litre
Diesel: Rs 89.62 per litre
Chennai
Petrol: Rs 102.63 per litre
Diesel: Rs 94.24 per litre
Kolkata
Petrol: Rs 106.03 per litre
Diesel: Rs 92.76 per litre
Mumbai
Petrol: Rs 106.31 per litre
Diesel: Rs 94.27 per litre
Bengaluru
Petrol: Rs 101.94 per litre
Diesel: Rs 87.89 per litre
Lucknow
Petrol: Rs 96.57 per litre
Diesel: Rs 89.76 per litre
Hyderabad
Petrol: Rs 109.66 per litre
Diesel: Rs 97.82 per litre
Bhopal
Petrol: Rs 108.65 per litre
Diesel: Rs 93.90 per litre
Gandhi Nagar
Petrol: Rs 96.63 per litre
Diesel: Rs 92.38 per litre
Guwahati
Petrol: Rs 96.01 per litre
Diesel: Rs 83.94 per litre
Thiruvananthapuram
Petrol: Rs 107.71 per litre
Diesel: Rs 96.52 per litre.
The price of fuels like diesel and petrol comprises three components in India. These are base price, central excise duty, and state tax. The variation in fuel prices across states is due to state-specific taxes like the Value Added Tax, and additional charges such as dealer commissions, and freight charges.
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