Gasoline and diesel prices were unchanged on Thursday. Oil Marketing Companies revise fuel prices at 6:00 am every morning based on the latest market trends. Fuel prices are not controlled by the government. The OMCs have to adjust their prices. The central government regulates fuel prices through excise taxes, base prices and maximum prices.
Here are the fuel prices for major Indian cities on Thursday:
|City||GASOLINE (Rs/Litre)||DIESEL (Rs/litre)|
The last nationwide fuel price adjustment was made in May 2022 by Finance Minister Nirmala Sitharaman, who reduced the excise tax on gasoline and diesel around 2020 €8 per liter and €6 per liter.
It should be noted that gasoline and diesel prices vary from state to state and are affected by various factors such as Value Added Tax (VAT), freight charges and local taxes.
Fuel prices in India are not subject to goods and services tax. While the center collects excise duty, state governments collect sales tax. Since sales tax is different for each state, hence the pricing. Rajasthan charges the highest VAT in the country, followed by Madhya Pradesh and Maharashtra.
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