Petrol and diesel prices on March 16
The petrol and diesel rates remained unchanged on Thursday. Oil Marketing Companies revise the fuel prices based on the most recent market trends every morning at 6 am. The fuel prices are not controlled by the government. The OMCs need to adjust their prices. The Central government regulates fuel prices through excise duty, base prices and cap prices.
According to fuel prices announced, petrol was priced in Delhi at ₹96.72 per litre while the cost of diesel was ₹89.62 per litre.
In India’s financial capital Mumbai, the price of petrol stood at ₹106.31 while the cost of diesel was ₹94.27 per litre. The petrol and diesel prices in Kolkata stood at ₹106.03 per litre and ₹92.76 per litre respectively. The price of petrol in Chennai stood at ₹102.74 was diesel was priced at ₹94.24 per litre.
Here are the fuel prices for top Indian cities on Thursday:
|City||PETROL (Rs/Litre)||DIESEL (Rs/Litre)|
The most recent nationwide adjustment in fuel prices was made in May 2022 by Finance Minister Nirmala Sitharaman, who slashed the excise duty on petrol and diesel by ₹8 per litre and ₹6 per litre, respectively.
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.