Diesel Rates Unchanged On Saturday After Three Consecutive Price Cuts

After witnessing three consecutive price cuts, diesel rates were left unchanged on Saturday across the country. The state-owned marketing companies have slashed diesel rates by 20 paise a litre on three straight days, bring down it cumulatively by 60 paise a litre. Petrol prices have remained stable across the country since July 17, 2021, except Tamil Nadu. As per details listed on Indian Oil's official website, petrol retails at ₹ 101.84 a litre while diesel costs ₹ 89.27 a litre in the national capital Delhi.

Here are the petrol and diesel prices across six major metros on August 21, 2021:

In India's financial capital Mumbai, petrol and diesel remained steady at ₹ 107.83 a litre and ₹ 96.84 a litre, respectively. In fact, Mumbai became the first metro where petrol breached the ₹ 100-litre mark and fuel rates are the most expensive compared to other metros. Customers in Kolkata continue to pay ₹ 102.08 a litre and ₹ 92.32 a litre, respectively.

Last week, the Tamil Nadu state government announced a tax cut of ₹ 3 a litre on petrol, bringing down the cost to ₹ 99.47 a litre. In Hyderabad and Bengaluru, diesel now costs ₹ 97.33 a litre and ₹ 94.65 a litre, respectively. However, petrol retails at ₹ 105.83 per litre and ₹ 105.25 per litre, respectively.

Also Read: Explained: How Fuel Prices Are Calculated In India​

The fuel rates vary from state to state in the country due to the value-added tax or VAT. Rajasthan levies the highest VAT on fuel, followed by Madhya Pradesh, Maharashtra, Andhra Pradesh and Telangana. Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum are the three leading oil marketing companies. They revise domestic fuel prices with global benchmarks by taking into account alterations in the foreign exchange rates accordingly.

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