On August 29, 2021, gasoline and diesel prices remained unchanged for the fifth day in a row across the country. State-owned petroleum marketing companies (WTO) did not raise gasoline and diesel prices on Sunday. In the national capital, the price of a liter of gasoline sells for Rs 101.49 per liter and diesel is available at Rs 88.92 per liter.
In Mumbai, gasoline costs Rs 107.52 per liter and diesel sells for Rs 96.48 per liter, the highest of any metropolitan city. On May 29, India’s financial center became the first metropolitan city where the price of gasoline exceeded Rs 100 per liter.
Meanwhile, in Chennai, the gasoline rate stands at Rs 99.20 per liter and the diesel rate has remained unchanged at Rs 93.52 per liter. It is worth mentioning that Chennai is the only metropolitan city with the lowest gasoline price at present, as the DMK government recently announced a tax cut of Rs 3 on gasoline per liter during its first budgetary session.
Fuel rates have also remained stable in Kolkata, where gasoline is available at Rs 101.82 per liter and the diesel rate at Rs 91.98 per liter.
Gasoline, diesel take off:
Although fuel prices remain constant for the fifth day in a row, oil prices are skyrocketing to an all time high in cities like Bengaluru, Bhubaneshwar, Patna, Hyderabad, Jaipur, Bhopal and Trivandrum.
In Bhopal, the gasoline rate is Rs 109.91 per liter while that of diesel is Rs 97.72 per liter. In contrast, in the capital of Rajasthan, Jaipur, gasoline and diesel prices are respectively Rs 108.86 and Rs 97.51.
Rajasthan has the highest VAT in the country, followed by Maharashtra and Madhya Pradesh. Diesel, the country’s most widely used fuel, has also passed the Rs 90 per liter mark in all metropolitan cities except Delhi.
Constant fuel prices since August 25:
Despite rising international oil prices and Brent futures hitting $ 7.5 a barrel in one week, gasoline and diesel prices have not changed since August 25, 2021. On August 24, fuel prices dropped slightly. and gasoline and diesel prices fell 15 paise per liter respectively.
Fuel prices fluctuated between May 4 and July 17, and gasoline prices increased by 11.52 rupees per liter in 42 days. However, fuel prices have remained constant since July 18 for more than a month, after which prices have fallen.
Gasoline and diesel prices have been on the rise in the country since May 4, 2021, after MOCs ended an 18-day hiatus in rate reviews that coincided with assembly elections in key states. Fuel prices vary from state to state and also within cities, depending on the incidence of local taxes such as value added tax (VAT) and freight charges.
Gasoline, diesel prices in major Indian cities:
|CITY||GASOLINE (PER LITER)||DIESEL (PER LITER)|
|DELHI||101.49 rupees||88.92 rupees|
|MUMBAI||107.52 rupees||96.48 rupees|
|CHENNAI||Rs 99.20||93.52 rupees|
|KOLKATA||101.82 rupees||91.98 rupees|
|BENGALURU||104.98 rupees||94.34 rupees|
Gasoline and diesel prices depend on various factors such as valuation of INR against USD, refinery consumption ratio and fuel demand in our country. Fuel prices are revised by oil marketing companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum based on international prices for the previous 15 days and foreign stock exchanges.
READ ALSO | Gasoline and Diesel Prices Today: No Change in Fuel Prices August 28, 2021 | Check out the latest prices here