Petrol, diesel prices on September 3
Petrol and diesel prices in India have followed a consistent pattern for over a year, with the most recent adjustment occurring in May 2022. These prices can vary from state to state, owing to factors such as local taxes, value-added tax (VAT), freight charges, and other regional considerations.
According to the daily 6 am price updates provided by oil marketing companies, major cities like New Delhi, Kolkata, Mumbai, and Chennai have seen no changes in the prices of petrol and diesel, as reported by the Goodreturns website.
The pricing of fuels in India is regulated by the central government and is influenced by factors like excise duty, base prices, and price caps. Excise duty collection is managed by the central government, while Value Added Tax (VAT) collection falls under the purview of individual states. Due to the application of varying VAT rates by each state, fuel prices can diverge accordingly.