After the Centre reduces excise duty, the price of gasoline and diesel drops dramatically; see today's fuel prices. On Sunday, June 5, the price of gasoline stayed unchanged for the second week in a row, while the price of diesel remained unchanged as well. This comes after the Centre ordered an excise tax cut, which resulted in a decrease in the price of gasoline and a decrease in the price of diesel, providing respite to the average man who is suffering from inflation.
Last month, Finance Minister Nirmala Sitharaman lowered excise duties on petrol and diesel by a record Rs 8 per litre and Rs 6 per litre, respectively, as gasoline prices reached an all-time high.
Petrol was priced at Rs 96.72 per litre in Delhi and Rs 111.35 per litre in Mumbai, while diesel was priced at Rs 89.62 in Delhi and Rs 97.28 in Mumbai. However, despite the tax decrease, the price of petrol in Kolkata today was Rs 106.03 per litre, while the price of diesel was Rs 92.76 per litre. Petrol was selling for Rs 102.63 a litre in other parts of the country, while diesel was selling for Rs 94.24 per litre.
On May 21, Nirmala Sitharaman announced an 8-per-litre decrease in petrol excise duty and a 6-per-litre reduction in diesel excise duty. Following the government's decision, petrol prices in the national capital were decreased by Rs 8.69 per litre while diesel prices were reduced by Rs 7.05 per litre. Following this, other state governments, including Uttar Pradesh, Kerala, Maharashtra, and Rajasthan, stated that the VAT on gasoline and diesel had been decreased in their jurisdiction.
This was done at a time when the country is grappling with rising inflation, which reached a new high in April.
In India, fuel costs are determined by worldwide crude oil prices and the rupee-dollar exchange rate. On top of that, the federal government and states collect various taxes on gasoline and diesel, including excise duty and Value Added Tax (VAT). The dealer's fee and freight expenses are also factored into the fuel price.
Petrol, Diesel Prices on Sunday, June 5, in Delhi, Mumbai, Chennai, Kolkata and Other Major Cities in India:
Delhi
Petrol: Rs 96.72 per litre
Diesel: Rs 89.62 per litre
Mumbai
Petrol: Rs 111.35 per litre
Diesel: Rs 97.28 per litre
Kolkata
Petrol: Rs 106.03 per litre
Diesel: Rs 92.76 per litre
Chennai
Petrol: Rs 102.63 per litre
Diesel: Rs 94.24 per litre
Bhopal
Petrol: Rs 108.65 per litre
Diesel: Rs 93.90 per litre
Hyderabad
Petrol: Rs 109.66 per litre
Diesel: Rs 97.82 per litre
Bengaluru
Petrol: Rs 101.94 per litre
Diesel: Rs 87.89 per litre
Guwahati
Petrol: Rs 96.01 per litre
Diesel: Rs 83.94 per litre
Lucknow
Petrol: Rs 96.57 per litre
Diesel: Rs 89.76 per litre
Gandhinagar
Petrol: Rs 96.63 per litre
Diesel: Rs 92.38 per litre
Thiruvananthapuram
Petrol: Rs 107.71 per litre
Diesel: Rs 96.52 per litre.
