Petrol Diesel Price Drops as Centre Cuts Excise Duty; Check Fuel Price In Your State

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.