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Spelling slight relief from several hikes, Petrol and diesel prices on Thursday stayed unchanged across major cities in the country. Government had announced a reduction in excise duty on petrol and diesel by ₹8 and ₹6 per liter respectively, so that the price of petrol and diesel will be at least ₹9.5 and upto ₹7 cheaper. Since then no fluctuations have occurred and oil prices have remained stable for almost a month.
Fuel prices in major cities:
In Delhi, a litre of petrol costs ₹96.72, while the diesel price stands at ₹89.62 per litre. In Mumbai, petrol is currently retailed at ₹111.35 per litre and diesel is sold at ₹97.28. Petrol price stands at ₹102.63 in Chennai, while diesel price stands at ₹94.24. In Kolkata, petrol is retailed at ₹106.03 and diesel is sold at ₹92.76.
Meanwhile, in another development, the Ministry of Consumer Affairs, Food & Public Distribution on Wednesday said major edible oil brands have lowered prices by ₹10-15 per litre as the government made timely interventions on multiple fronts to control prices that spiked due to the Russia-Ukraine conflict.
The wholesale prices and retail prices of vanaspati, soyabean oil, sunflower oil and RBD palmolein have decreased over the week. With the edible oil prices beginning to show a downward trend and are set to decline further, the Indian consumers can expect to pay less for their edible oils, the ministry said in a statement. The falling edible oil prices will help in cooling the inflation as well, said Secretary Department of Food and Public Distribution Sudhanshu Pandey.
"All major edible oil brands have cut prices by 10-15 rupees," Pandey said. He added that this has been possible due to constant monitoring by the department, constant engagement with all stakeholders and multiple interventions by the government.
According to sources, the MRP of Fortune Refined Sunflower Oil 1 litre pack has been decreased to ₹210 from Rs. 220. The MRP of Soyabean (Fortune) and Kachi Ghani oil 1 litre pack from ₹205 to ₹195. The reduction in oil prices comes in the wake of Central Government reducing the import duty on edible oils making them cheaper.
Partha S Das, Joint Secretary, DFPD added that in the surprise inspections conducted in Maharashtra Rajasthan, Gujarat, Madhya Pradesh, Uttar Pradesh, West Bengal, Telangana and Karnataka in phase-I and Phase-II at 156 and 84 entities respectively.