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Petrol, diesel prices on May 3: Check rates in your city

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Petrol, diesel prices on May 3: Check rates in your city

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Fuel prices in major cities have remained unchanged on Wednesday. The oil companies announce updated petrol and diesel rates everyday at 6am. As per the latest rates, petrol in Delhi costs 96.72 per liter while the price of diesel in the national capital stands at 89.62.

The prices of petrol and diesel are subject to change according to state-wise Value Added Tax (VAT), freight charges, local taxes, etc. (Representational)
The prices of petrol and diesel are subject to change according to state-wise Value Added Tax (VAT), freight charges, local taxes, etc. (Representational)

The cost of one liter of petrol in India’s financial capital Mumbai continue to remain 106.31, and for an equal quantity of diesel, customers have to pay 94.27. Similarly, customers in Gurugram will have to pay 97.10 for a litre of petrol and 89.96 for equal quantity of diesel.

Here are the petrol and diesel prices for top 5 cities on May 3, 2023:

CITY PETROL PRICE (Rs/LITRE) DIESEL PRICE (Rs/LITRE)
BENGALURU 101.94 87.89
CHENNAI 102.73 94.46
JAIPUR 108.48 93.72
KOLKATA 106.03 92.76
LUCKNOW 96.47 89.76

In India, fuel prices are decided by oil marketing companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum. Prices are determined in accordance with the price of crude oil throughout the world.

But it is not that the Centre does not have any impact on petrol and diesel prices. The Union government regulates prices through excise duty. It also controls rates via base prices and can cap rates at which dealers and OMCs deal with each other.

The prices of petrol and diesel are subject to change according to state-wise Value Added Tax (VAT), freight charges, local taxes, etc.



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