Petrol and Diesel Rate Today, 29 May- Some cities see revision; Check rates in Delhi, Mumbai, other cities
Petrol and Diesel Rate Today, 29 May: Some cities see revision; Check rates in Delhi, Mumbai, other cities Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Petrol and diesel prices were constant on Monday, 29 May across New Delhi, Kolkata, Mumbai, and Chennai. Petrol rates and diesel rates have been steady over the last twelve months. However, individual cities see fluctuations in their prices everyday. The prices of petrol and diesel change state by state, depending upon various criteria such as Value Added Tax (VAT), freight charges, local taxes, etc. The last country-wide change in fuel rates was on 21 May last year, when Finance Minister Nirmala Sitharaman slashed excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel. Since the cut of excise duty by the central government in May 2022, some states have also reduced VAT prices on fuels, while some have imposed cess on petrol and diesel. Public sector Oil Marketing Companies (OMCs) including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) andHindustan Petroleum CorporationLtd (HPCL) revise their petrol price and diesel price daily in line with international benchmark prices and forex rates. Any changes in petrol price and diesel price are implemented from 6 am every day. Oil Minister Hardeep Singh Puri recently asked OMCs to cut the retail prices of petrol and diesel if the crude oil prices in the international market come down and also if OMCs under recovery come down.
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