Fuel Prices Reduced By Up To 15 Paise; Petrol Retails At Rs. 98.96/Litre In Chennai

The state-run oil marketing companies (OMCs) on Sunday marginally lowered fuel rates across the country. According to details listed on the Indian Oil Corporation's official website, petrol and diesel prices were reduced by up to 15 paise after remaining stable for three consecutive days. With the latest revision, both petrol and diesel rates in the national capital Delhi dropped by 15 paise per litre, currently standing at Rs. 101.19 per litre and Rs. 88.62 per litre, respectively. In Mumbai, petrol prices stood at Rs. 107.26 per litre after seeing a drop of 13 paise, while diesel rates fell 14 paise to Rs. 96.19 per litre.

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

In Chennai, petrol retails below Rs. 99-mark, currently priced at Rs. 98.96 a litre

Here are the petrol and diesel prices across six major metros on September 5, 2021:

Other metro cities also witnessed a similar trend in fuel rates. Buyers in Kolkata will now have to pay Rs. 101.72 a litre for petrol and Rs. 91.71 a litre for diesel. In Chennai, fuel rates were reduced by 12 paise, as petrol now stands at Rs. 98.96 a litre, while diesel retails at Rs. 93.26 a litre. The two auto fuels in Bengaluru now cost Rs. 104.70 per litre and Rs. 94.04 per litre for petrol and diesel respectively.

The fuel rates vary from state to state in the country due to the value-added tax or VAT.

Also Read: Petrol, Diesel Prices Reduced Again Across 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.