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In general, the fuel prices in India are revised by the government on a daily basis and depend on the international crude oil prices, exchange rate, and taxes since June 15, 2017. Today 10, June 2023 the price of petrol in Delhi is around 96.72 Indian Rupees per liter, while the price of diesel is around 96.72 Indian Rupees per liter. However, please note that these prices can vary based on the location and can change over time. Price of fuel in India includes excise duty, value added tax (VAT), and dealer commission. VAT varies from state to state in India and after adding excise duty, dealer commission and VAT, the retail selling price of fuel gets nearly doubled in India.
|Andaman and Nicobar Islands||84.10₹/L||79.74₹/L||--|
|Dadra and Nagar Haveli||94.43₹/L||89.98₹/L||--|
|Daman and Diu||95.26₹/L||90.81₹/L||--|
|Jammu & Kashmir||98.61₹/L||84.14₹/L||--|
Taxes make up a little more than 50% of the retail price of fuels in India. On November 1, the central government announced a Rs 5 per litre cut on excise duty on petrol, and a Rs 10 per litre cut on diesel. This meant that the VAT, which is charged by the states on the price after the excise duty is added, will also come down marginally. This led to the price of petrol falling marginally below the Rs 100 mark in a few states. However, the rise in petrol prices causes an increase in the cost of many goods and services. And experts have said that any reduction in the price of petrol will not be directly proportional to the decrease, if any, in the cost of these services. Thus, the impact of the rise in petrol prices reflects in the long run.
The prices of petrol and diesel are reviewed by oil marketing companies such as state-run Indian Oil on a daily basis and any revision is implemented from 6 am.