Petrol, Diesel Prices Remain Unchanged Despite Central Excise Cut
New Delhi – Despite a recent reduction in fuel excise duties by the central government, petrol and diesel prices remain unchanged across major Indian cities. The move, announced as a measure to assist oil marketing companies (OMCs) amid ongoing instability in the oil market due to the Middle East conflict, has not translated into immediate price reductions at the pump.The central government recently slashed petrol duty to ₹3 per litre from ₹13 per litre and offered diesel with no excise duty, previously at ₹10 per litre. This excise cut is intended to mitigate under recoveries experienced by OMCs. The ongoing volatility in the oil market, largely attributed to concerns surrounding the Strait of Hormuz, is a key factor driving this policy shift.
Fuel Prices by City (as of March 27)
| City | Petrol (₹/L) | Diesel (₹/L) |
|---|---|---|
| New Delhi | 94.77 | 87.67 |
| Mumbai | 103.54 | 90.03 |
| Kolkata | 105.45 | 92.02 |
| Chennai | 100.84 | 92.39 |
| Bengaluru | 102.92 | 90.99 |
| Hyderabad | 107.46 | 95.70 |
| Ahmedabad | 94.29 | 89.95 |
Following the excise cut announcement, Nayara Energy, a leading private fuel merchant in India, implemented a price hike on Thursday, increasing petrol prices by ₹5 per litre and diesel prices by ₹3 per litre.
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