For more than a month, fuel prices have been steady. The Oil Marketing Companies (OMCs) increased petrol and diesel prices by Rs 10 per liter during 14 hikes that took place between March 22 and April 6. It has now been speculated that fuel prices will increase further.
Union Minister Rameswar Teli, who oversees the Ministry of Labour and Employment and the Ministry of Petroleum and Natural Gas, has hinted that citizens may soon witness a hike in fuel prices; he recently said that the government cannot control petrol and diesel prices unless oil production increases. In recent times, inflation has increased, as has the price of fuel.
Since the Assembly election concluded in Manipur, Uttar Pradesh, Punjab, Uttarakhand and Goa, petrol and diesel prices have surged across the country.
Those living in Delhi will pay Rs 105.41 per liter for petrol, while those living in the national capital will pay Rs 96.67 per liter for diesel. Petrol prices in Mumbai are Rs 120.51 per liter, and diesel prices are Rs 104.77 per liter. The retail price for a liter of petrol in Kolkata on Saturday is Rs 115.12, while the retail price for one liter of diesel in Kolkata stands at Rs 99.83.
litre of diesel in the capital city of West Bengal stands at Rs 99.83. liter of diesel in the capital city of West Bengal is Rs 99.83. In Chennai, the petrol price is Rs 110.85 per liter while the diesel price is Rs 100.94 per liter in the capital city of Tamil Nadu.
Public sector OMCs such as Hindustan Petroleum Corporation Ltd (HPCL), Indian Oil Corporation Ltd (IOCL), and Bharat Petroleum Corporation Ltd (BPCL) revise petrol and diesel prices on a regular basis. A number of factors influence fuel price revisions by the OMCs, including foreign exchange rates and international crude oil prices.
Petrol and diesel prices vary a lot from state to state since they are influenced by local factors, such as local taxes, VAT (Value Added Tax), and freight charges.