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India, much like other nations across the globe, is heavily dependent on fossil fuels to power its transportation sector. Petrol and diesel, the two most commonly utilised fuels in the country, have remained at a stable price for over 9 months now. This stable pricing is due to a price freeze implemented by Indian Oil Marketing Companies (OMCs), rendering these fuels impervious to exchange rates and supply and demand factors.
OMCs have opted to keep prices static to recoup losses from the past few quarters. This was because of the Covid-19 pandemic as well as the energy crisis precipitated by Russia’s attack on Ukraine.
As of March 6, 2023, the trend of unchanging prices continues. Petrol and diesel prices remain high in most parts of the country. In Delhi, petrol fetches Rs 96.72 per litre, while diesel is priced at Rs 89.62 per litre. Chennai residents, on the other hand, must pay Rs 102.73 for a litre of petrol and Rs 94.33 for diesel.
Mumbai’s petrol prices top the charts, commanding a whopping Rs 106.31 per litre. Diesel in India’s financial capital retailed at Rs 94.27 per litre. Kolkata’s petrol costs Rs 106.03 per litre, while diesel is priced at Rs 92.76 per litre. Local taxes and transportation costs account for the price disparity among cities.
Find fuel rates in different cities in India on March 6 here:
Delhi
Petrol: Rs 96.72 per litre
Diesel: Rs 89.62 per litre
Chennai
Petrol: Rs 102.73 per litre
Diesel: Rs 94.33 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
Bhopal
Petrol: Rs 108.65 per litre
Diesel: Rs 93.90 per litre
Gandhinagar
Petrol: Rs 96.63 per litre
Diesel: Rs 92.38 per litre
Hyderabad
Petrol: Rs 109.66 per litre
Diesel: Rs 97.82 per litre
Thiruvananthapuram
Petrol: Rs 107.71 per litre
Diesel: Rs 96.52 per litre
Prices of petrol and diesel in India vary from state to state due to the different rates of local taxes and transportation costs. Each state in India has the authority to impose its own taxes, such as value-added tax (VAT) and excise duty, on petrol and diesel.
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