On Wednesday, state-owned oil marketing firms (OMCs) did not raise petrol and diesel prices. As worldwide crude oil costs fall, fuel prices have stayed stable for four days in a row. In Delhi, petrol costs 101.84 rupees, while diesel costs 89.87 rupees. Petrol is selling for 107.83 per litre in India's financial hub Mumbai, while diesel is selling for 97.45 per litre.
While some states have lowered VAT slightly, the central government has stated unequivocally that it is unable to reduce the high excise charge levied on gasoline and diesel. Due to large expenditures this year on Covid-19 vaccines and other relief measures, the government has stated that it will not be able to lower excise duty.
After Saturday's changes, diesel and petrol prices remained constant for the fourth day in a row on July 21. The price of petrol has increased nine times this month, while the price of diesel has been adjusted six times, with one drop.
With no chance of lowering the country's record-high fuel excise levy, the drop in worldwide oil prices offers a ray of hope for millions of citizens. Domestic fuel costs may be reduced this month as a result of falling worldwide oil prices.
Fuel prices are influenced by a variety of national and international factors. The price of fuel at the national level is determined by state-level taxes, federal taxes, excise duties, and oil company commissions, among other factors.
|Mumbai||Rs 107.83||Rs 97.45|
|Delhi||Rs 101.84||Rs 89.87|
|Kolkata||Rs 102.80||Rs 93.02|
|Bangalore||Rs 105.25||Rs 95.26|
|Hyderabad||Rs 105.83||Rs 97.96|
|Pune||Rs 107.39||Rs 95.54|
|Chennai||Rs 102.49||Rs 94.39|