Fuel Stability: Petrol & Diesel Prices Hold Steady Across India on September 8

Commuters across India can breathe a slight sigh of relief as petrol and diesel prices remained unchanged on September 8, 2023. This stability offers a brief respite from the often-volatile fluctuations at the fuel pumps, giving motorists a predictable cost for their daily commutes and travel plans.

State-owned oil marketing companies (OMCs) like Indian Oil, Bharat Petroleum, and Hindustan Petroleum meticulously review and revise fuel prices daily, with any changes typically implemented at 6 AM IST.

These revisions are influenced by a complex interplay of global crude oil prices and the rupee-dollar exchange rate. For September 8, however, the needle didn't move, holding prices steady across major metropolitan areas.

Let's take a closer look at the fuel rates in key Indian cities on this day:

• New Delhi: Petrol priced at Rs 96.72 per litre, Diesel at Rs 89.62 per litre.
• Mumbai: Petrol stood at Rs 106.31 per litre, while Diesel was Rs 94.27 per litre.
• Kolkata: Residents paid Rs 106.03 for a litre of Petrol and Rs 92.76 for Diesel.
• Chennai: Petrol rates were Rs 102.63 per litre, and Diesel was available at Rs 94.24 per litre.
• Bengaluru: Petrol priced at Rs 101.94 per litre, Diesel at Rs 87.89 per litre.
• Hyderabad: Petrol stood at Rs 109.66 per litre, while Diesel was Rs 97.82 per litre.
• Lucknow: Residents paid Rs 96.57 for a litre of Petrol and Rs 89.76 for Diesel.
• Noida: Petrol rates were Rs 96.65 per litre, and Diesel was available at Rs 89.82 per litre.
• Gurugram: Petrol priced at Rs 96.84 per litre, Diesel at Rs 89.72 per litre.
• Chandigarh: Petrol stood at Rs 96.20 per litre, while Diesel was Rs 84.26 per litre.

It's important for consumers to understand that the final price they pay at the pump includes several components.

These typically consist of the Central Government's excise duty, the State Government's Value Added Tax (VAT), and the dealer's commission. These taxes and commissions vary from state to state, which explains the differing fuel prices across various cities in India, despite a uniform base price for crude oil.

While the stability on September 8 is welcome, the dynamic nature of global oil markets means that prices can shift quickly.

Monitoring these daily revisions helps consumers plan their fuel consumption and budget effectively amidst the ever-evolving economic landscape.