Petrol, Diesel Prices Unchanged For The Third Straight Day

Fuel prices in India were unchanged for the third straight day on Friday by state-owned oil marketing companies.

Petrol prices per litre remained at Rs 90.93 in New Delhi, Rs 91.12 in Kolkata, Rs 97.34 in Mumbai and Rs 92.97 in Chennai.

Diesel prices per litre were unchanged at Rs 81.32 in New Delhi, Rs 84.20 in Kolkata, Rs 88.44 in Mumbai and Rs 86.37 in Chennai.

These rates are revised on a daily basis by oil marketing companies in line with changes in the international prices and the rupee's exchange rate. However, the difference in retail prices of fuel across states is due to local, state and central government taxes on petrol and diesel. A large percentage, that is up to 60%, of the retail price on petrol or diesel price paid by consumers in the country is just a form of central, state or local tax.

In the last two weeks, five states, namely West Bengal, Rajasthan, Nagaland, Assam, and Meghalaya, have taken the initiative of reducing the burden on consumers by lowering state-related taxes on fuel. However, the central government is yet to announce a cut in duties to provide relief from record-high prices.