Petrol and diesel prices today: Check fuel rates on March 17

Petrol and diesel prices: The Central government regulates fuel prices through excise duty, base prices and cap prices.

Updated on: Mar 17, 2023, 09:20:30 IST

By HT News Desk | Written by Shobhit Gupta

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Petrol and diesel rates in India remained unchanged on Friday. The oil companies announced the fuel prices at 6 am today. The petrol and diesel prices are decided by oil companies and are not controlled by the government.

The oil companies announced the fuel prices at 6 am today. (Representative image/ istock)

The fuel prices are not controlled by the union government and Oil Marketing Companies (OMC's) decide the prices according to global rates. The Central government regulates fuel prices through excise duty, base prices and cap prices.

Here are the fuel prices for top Indian cities on Friday:

CITY	PETROL (Rs/LITRE)	DIESEL (Rs/LITRE)
DELHI	96.72	89.62
MUMBAI	106.31	94.27
KOLKATA	106.03	92.76
CHENNAI	102.63	94.24
BENGALURU	101.94	87.89

In May 2022, the Narendra Modi government reduced central excise duty on petrol and diesel by ₹8 per litre and ₹6 per litre respectively. Union finance minister Nirmala Sitharaman had tweeted, “It will have a revenue implication of around ₹1 lakh crore per year for the government,” the finance minister said in a series of tweets.

The price at which the petrol or diesel dealers or distributors buy from oil marketing companies+excise duty+dealer's commission+ value added tax levied by the state government= Petrol price.

It is to be noted that the fuel prices in India are not under goods and service tax (GST). The prices differ from state to state, influenced by various factors, such as Value Added Tax (VAT), freight charges, and local taxes.

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