On Wednesday, July 20, the price of fuel in the country remained unchanged for almost two months. Maharashtra is the only state where the government announced the deduction of the Value Added Tax (VAT) in the last few days. VAT is reduced by RS 5 per liter for gasoline and amounting to RS 3 per liter for diesel in the state. The retail price of gasoline in Mumbai is RS 106.31 per liter, and the retail price of diesel in financial capital stands in RS 94.27 per liter.
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For the whole country, the price of fuel remains stable for more than 55 days. The latest reduction in the price of gasoline and diesel was introduced by Minister of Finance Nirmala Sitharaman who announced the alignment of excise on gasoline with RS 8 per liter, and RS 6 per liter on Diesel on May 21. The retail price of gasoline in Delhi continues to remain RS 96.72 per liter, while the retail price of diesel in the national capital is RS 89.62 per liter. In Chennai, gasoline consumers must pay RS 102.63 per liter, while diesel consumers must pay RS 94.24 per liter. One liter of gasoline in Kolkata is being sold for Rs 106.03, while one liter of diesel in the city is being sold for RS 92.76 per liter.
Oil marketing companies (OMC) such as Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) are responsible for making a revision of fuel prices. Every change made by OMCS is implemented starting at 6 am every day. The price of gasoline and diesel changes due to several global factors including foreign exchange rates, inflation, and international crude oil prices. The retail and diesel prices remain different from one country to the state in the country because of local taxes such as VAT or shipping costs.
Gasoline prices, diesel on July 20 in Delhi, Chennai and other big cities in India:
Delhi
Gasoline: RS 96.72 per liter
Diesel: RS 89.62 per liter
Mumbai
Gasoline: RS 106.31 per liter
Diesel: RS 94.27 per liter
Kolkata
Gasoline: RS 106.03 per liter
Diesel: RS 92.76 per liter
Chennai
Gasoline: RS 102.63 per liter
Diesel: RS 94.24 per liter
Bhopal
Gasoline: RS 108.65 per liter
Diesel: RS 93.90 per liter
Hyderabad
Gasoline: RS 109.66 per liter
Diesel: RS 97.82 per liter
Bengaluru
Gasoline: RS 101.94 per liter
Diesel: RS 87.89 per liter
Guwahati
Gasoline: RS 96.01 per liter
Diesel: Rs 83.94 per liter
Lucknow
Gasoline: RS 96.57 per liter
Diesel: Rs 89.76 per liter
Gandhinagar
Gasoline: RS 96.63 per liter
Diesel: RS 92.38 per liter
Thiruvananthapuram
Gasoline: RS 107.71 per liter
Diesel: RS 96.52 per liter.